I'd like to see a button/menu option to add a new link,
where a dialog pops up and lets you put in the url, then
the displayed text, and then whether you want the link
to open a new window. that'd be awesome.
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More completely, I'd like it to take a highlighted bit of
text as the default link text if a bit is highlighted and
position the cursor in the address field.
This is, as it stands, a pretty chunky omission.