1,000 mBTC = 1 BTC = 1 XBT.
mBTC is pronounced "embit" and 1,000 mBTC is pronounced "one thousand embits". Currently, one embit is worth about one dollar.
Problem solved.
So you decide how to pronounce it and the next poster says thats the wrong way to pronounce it. See how silly this is.
A bitcoin is a bitcoin is a bitcoin. Every you granny can get her teeth round that.
Do you wanna start talking microbitcoins to your gran, or even you mom? Conversation killer right there.