Hip Hop Skid Bikes / Hipster Sleds / HHSB

It's all about the resulting trail. A measurement taken between the tire contact point and the intersection of the steering tube axis with the ground.
Generally speaking high HT angle + high rake = low trail = "fast" or "twitchy" steering.
This makes for an awesome handling experience and best suited for low speeds as it can get unstable at higher speeds where steering input is amplified.
This is why Triathlon/TT bikes, and MTB's have slacker HT angles and lower rake, to make them more stable.
Road bikes have a "mid-trail" which is a compromise between stability and handling, so do track bikes but with a steeper HT and lower rake.

quoted, so that everyone can see that one can explain things without being a cunt:)