Rated 3 out of 5 stars

Text2Link add on only works inside firefox. If you have a link inside notepad, however, it won't do any good.

Copy and Go, however, is quite useful for links that you copy out of other applications such as notepad, console, mails, etc.

The only thing missing is a hotkey (CTRL+SHIFT+T e.g.) - this way you have to use your mouse which sometimes sucks.