To Blue or Not to Blue:
Pros and Cons of making text links blue and underlined.
Pro: Your visitors expect text links to be blue and underlined. They expect visited links to turn purple. As a corollary, if any other text is blue, purple or underlined, that text will confuse them at first glance. Ted Pack
Pro: I heard that fewer internet users click on links that are not underlined, so I tested this for 5 days during a 6-week Google Adword campaign that used a site that had only 3 obvious and prominant links. The number of clicks on the links when they weren't underlined went down by more than half. Joyce Dowling