I visit www.cgtalk.com, and their method of inserting URLs is quite slick. It's a VBulletin board, I believe, so I don't know if things would be cross-compatible...
When you click the Insert URL button, a text-entry box pops up, and asks for what text you want the URL to display. You enter it, click next, and a second box appears, wherein you enter the URL. A simple click of the Next button inserts a perfectly formatted link into the post.
Anyways, from the amount of botched [url][/url] attempts and "Yuo suck at teh bbcode" comments I've seen, their way of doing things might be worth a look.
Backstory: alpha, the popular simian that he is, doesn't have room to keep PMs, so he wanted me to post it in here.