nope it has been asked many a time...including once by me!
here is how i do it. I type out all the text i want in my e-mail. Then i highlight the word that i want to have linked. THEN i click the URL button. It will then put your brackets around the word that you are trying to link like
(without the space of course)
then i type an = sign between [url = ]
(like that without the spaces.)
after the = sign i paste in my url like [url = http:// knittinghelp.com/knitting/forum/] this [/url]
(again without the spaces.)
and when you preview it, it will look like this
seems like a lot of steps but really it isn't. i used to type it all in but after i figured out that little trick it goes a lot faster for me!