Forum Moderators: open
It will prevent people from posting for link-pop advantage because there's no reason to, but it still allows them to post their own links.
The main problem is people promoting themselves and such as I see it, but I think the value of having links remain even on old posts is worth it. Quite often people refer to the "link in their profile" - but those are quite often to a great deal of change, and when looking at old posts that refer to a specific URL, they are almost rendered useless.
I hope I explained it clearly. I may be totally wrong.