Actually, no, "or else" [lub inaczej] for native english speakers sounds like "you'll regret it". "Lub tez" in itself is a weird form if You think about it, we're just used to it. "Or, also" makes it look a bit more clearer, though still not correct.;)

Or simply "or"?

I've just been advised that it basically means the same as the German "beziehungsweise" or "bzw.", which is also quite difficult to transpose into English. It is basically used to present alternatives.

Yes, the main meaning for "or else" is just like you described, but in any languages, one phrase very rarely has only one meaning.

http://www.ldoceonline.com/dictionary/else
edit: nvm, I made more confusion than add something to the discussion :P

but it seems you were closer to the truth than I : DD

http://pl.bab.la/slownik/polski-niemiecki/lub-te%C5%BC

LOL I thought you meant that the translation of "Lupdezh" was literally "eeeerm wut?" then!

Which one of the "or else" meanings listed there means the same as "lub tez"?

"Lub tez" bacisally means "or", but states both possibilities [given before and after the phrase] are correct, which gives it the 'also' meaning. It's basically means "Another World or Out Of This World, whichever You prefer to call it".

how about aka or just also without the or?
in usual situation for english "or", I see either polish "lub" or "albo".
in english you'd say something like: This is Johnny, aka/also The Boss.
the meaning is of pure equivalence, and it seems you guys are implying "lub tez" is used in same way.

Thanks for the replies and clearing that up, guys

What does "Perdillionov" mean? is it the Polish equivalent of "Bazillion" or something like that?

You could translate it literally into Fartillion.