I entered the password from the xkcd comic in this web site: http://rumkin.com/tools/password/passchk.php
And got an entropy of 51.8 bits.
Long passwords are great (especially if one is using a password manager), but not many places accept them.
I imagine the calculation goes something like this:
1/50000 Likelihood of a particular uncommon word
1/8 Substitute up to three letters for numbers
1/2 Initial capital or initial lowercase
1/32 Add a punctuation character at the end
1/10 Add a digit at the end
1/2 Possibly swap punctuation and digit at the end
----------------------------------------------------------
1/512000000 Resulting probability
-28.93157 log2(1/512000000) -- number of bits of entropy
For my passwords, I use 8 character random strings so hopefully I am a little safer. Although, as I'm learning from all of these password leak debacles, you are only as secure as the systems using those passwords.