Actually, I semi-dislike this feature, as it sometimes creates nonsensical sentences and I believe links should either be visible as URLs or make grammatical sense.

Example: 

- You can read more about it [here](http://serverfault.com/questions/218005/how-do-i-deal-with-a-compromised-server).
- You can read more about it at  http://security.stackexchange.com/questions/39231/how-do-i-deal-with-a-compromised-server 
- You can read more about it at http://serverfault.com/questions/218005/how-do-i-deal-with-a-compromised-server

The first form is easiest to read and the second makes it clear it's a link. Granted, it's not difficulty to get the meaning of the third form, but it somehow annoys me.

Just a personal preference :)