Here is a small screen cap of what I have been able to do with this modification.
Note that vBulletin doesn't have the ability to add in extras into the contact information, such as a link to My Space or Live Journal, thus thanks to this mod, I can now include this

Before it would just look out of place in the Additional Info section..
To link to the profile field, just the profile field code around link tags, example:
HTML Code:
<a href="$post[field10]" target="_blank">$post[field10]</a>
This works perfectly.. I tell ya, I was tearing my hair out trying to make the profile page look better. So thankies very much!