Is it inappropriate to write an all bullet point cover letter?
The idea is that if someone important sees it they will actually read it instead of throwing it away.
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no. it looks retarded
In trading, sales etc... It's very much accepted to use bullet points I write in bullet points all the time, forces you to shorten your sentences and go straight to the point... For example: "I believe that the market in brent will be heading to $90 by january 2013." - Brent at $90 by jan13
But a cover letter will not be read anyways, so stick to the standard format... Use bullet points for your resume if you wish.
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