Here's a project for the LazyWeb: the three programs that I use most for text processing (Word, Entourage, and text input fields in my browser, which is currently Chimera) are all weak-to-useless when it comes to adding ordinary links to text. Most of the time, I find myself switching windows, selecting a URL, copying it to the clipboard, switching back to my document, and then typing out the href tag and pasting in the URL. 99% of the time, I'm pointing to a URL that I've visited in the last thirty minutes.
So what I'd love to see is a little service, like CopyPaste, available to any application, that keeps track of the last 25 URLs you've visited. Anytime you're working with text in any application, you select a string of words, hit a special key combination, and a list of recent URLs appears. Select one, and it automatically formats your HTML link for you. I'd use that service dozens of times a day. Maybe there's something out there that will do this already?