Please see
http://forums.invisionpower.com/topic/287067-link-wraping/page__pid__1840069__st__0
As the internet slowly moves to longer URLs, with better descriptions of the content, truncating the link's text should be an option in ACP (either enable/disable, or enable and x amount of characters, with your default of ~35 characters). It's easier to see what content your link is going to if it's longer than the truncating number, especially if it's all from a domain with a long name, and multiple links from the same website's directory within the same post.
Cheyne reacted to OverDriveAdamJ in Suggestion: ACP option to disable IPB's automatic Link wrapping (showing more characters for the link)