it's one word! http://afen.onelook.com/?w=highfalutin&last=high_falutin&loc=spell1

Anu had this to say:
Subject: A.Word.A.Day--highfalutin
Date: Mon, 18 Apr 1994 00:03:10 -0400 (EDT)
X-Bonus: Defeat is worse than death because you have to live with defeat.
high.fa.lu.tin \.hi_--f*-'lu_:t- *n\ adj : PRETENTIOUS, POMPOUS

and from M-W:
Main Entry: highˇfaˇluˇtin
Pronunciation: "hI-f&-'lü-t&n
Function: adjective
Etymology: perhaps from 2high + alteration of fluting, present participle of flute
Date: 1839
1 : PRETENTIOUS
2 : expressed in or marked by the use of high-flown bombastic language : POMPOUS

fun!


formerly known as etaoin...