Index: src/includes/common/functions.php
===================================================================
--- src/includes/common/functions.php	(revision 5343)
+++ src/includes/common/functions.php	(working copy)
@@ -787,15 +787,6 @@
 	$_post     = array();
 	$match_out = '';
 
-	/** Blacklist *************************************************************/
-
-	// Get the moderation keys
-	$blacklist = trim( get_option( 'moderation_keys' ) );
-
-	// Bail if blacklist is empty
-	if ( empty( $blacklist ) )
-		return true;
-
 	/** User Data *************************************************************/
 
 	// Map anonymous user data
@@ -829,10 +820,10 @@
 	/** Max Links *************************************************************/
 
 	$max_links = get_option( 'comment_max_links' );
-	if ( !empty( $max_links ) ) {
+	if ( ! empty( $max_links ) ) {
 
 		// How many links?
-		$num_links = preg_match_all( '/<a [^>]*href/i', $content, $match_out );
+		$num_links = preg_match_all( '/(http|ftp|https):\/\//i', $content, $match_out );
 
 		// Allow for bumping the max to include the user's URL
 		$num_links = apply_filters( 'comment_max_links_url', $num_links, $_post['url'] );
@@ -843,6 +834,16 @@
 		}
 	}
 
+	/** Blacklist *************************************************************/
+
+	// Get the moderation keys
+	$blacklist = trim( get_option( 'moderation_keys' ) );
+
+	// Bail if blacklist is empty
+	if ( empty( $blacklist ) ) {
+		return true;
+	}
+
 	/** Words *****************************************************************/
 
 	// Get words separated by new lines