Unless you regularly make your posts in Bold, Italics, or Underlined you should turn that thing off. Why?
1. All links become hyperlinks automatically.
2. Video embeds always work.
3. Posting pictures is mega-easy ------> [IMG]ImageURL[/IMG]
4. Pages load faster.
Just do this:
Go to: "Manage My NS" (upper lefthand corner) --> Scroll down to "Enable the Fancy Editor (GUI)?" --> Click no.