Yes, it can be read...

I cdnuolt blveiee taht I cluod aulaclty uesdnatnrd waht

I was rdgnieg. The phaonmneal pweor of the hmuan

mnid. Aoccdrnig to a rscheearch at Cmabrigde

Uinervtisy, it deosn't mttaer inwaht oredr the ltteers in

a wrod are, the olny iprmoatnt tihng is taht the frist and

lsat ltteer be in the rghit pclae. The rset can be a taotl

mses and you can sitll raed it wouthit a porbelm. Tihs

is bcuseae the huamn mnid deos not raed ervey lteter

by istlef, but the wrod as a wlohe. Amzanig huh? yaeh

and I awlyas thought slpeling was ipmorantt!