[Wired1]

So you're simply talking about turning a field that contains a URL into a clickable link with that URL in the display area. You earlier stated:
[url=http://www.tigerdirect.com/someproduct]My Awesome Computer Part[ /url ]

Where does it get the display text (e.g. "My Awesome Computer Part")? I wouldn't recommend using the profile name, as everyone's profile would just have a bunch of links that say Motherboard, Memory, etc. Not descriptive at all.

Or are you talking about having both the URL and the descriptor in the same post field, e.g.

www.asus.com;Asus P6T Deluxe

and then the parser identifies the semicolon (or whatever separator is used), and then uses the first half for the link and the 2nd half for the descriptor?

Not ideal while viewing someone's profile on the backend, on the other hand, the EPFP page could probably be tweaked to have 2 data entry boxes for each profile. OTOH, this comes back to helping URL spammers. My personal solution would be to not allow end users to enter in URLs, and only allow admins to do so in a way that the user couldn't (e.g. replacement variables).