Favorite Link:
javascript:function%20addlink(){t=document.title;u=escape(location.href);var%20q='http://www.intranoggin.com/Lists/Links/NewSetValuesForm.aspx?url='+u+'&description='+t;};%20addlink();

Add to NewSetValueForm.aspx:

<script type="text/javascript">
	_spBodyOnLoadFunctionNames.push("fillDefaultValues");
	function fillDefaultValues()
	{	
		var qs = location.search.substring(1, location.search.length);	
		var args = qs.split("&");	
		var vals = new Object();	
		for (var i=0; i < args.length; i++)
		{	
			var nameVal = args[i].split("=");	
			var temp = unescape(nameVal[1]).split('+');	
			nameVal[1] = temp.join(' ');
			nameVal[0]=nameVal[0].toLowerCase();	
			setTextFromFieldName(nameVal[0],nameVal[1]);
		}  
	}

	function getTagFromIdentifierAndTitle(tagName, identifier, title) 
	{	
		var len = identifier.length;	
		var tags = document.getElementsByTagName(tagName);	
		for (var i=0; i < tags.length; i++) 
		{	
			//alert("Found tag: " + tagName + "tag " + i + " of " + tags.length + " title: " + tags[i].title.toLowerCase());
			var tempString = tags[i].id;	
			if (tags[i].title.toLowerCase() == title && (identifier == "" || tempString.indexOf(identifier) == tempString.length - len)) 
			{			
				return tags[i];	
			}	
		}
		return null;
	}
	function setTextFromFieldName(fieldName, value)
	{		
	  	var found=false;	  	
	  	
	  	if(!found)
	  	{
			theInput = getTagFromIdentifierAndTitle("textarea","",fieldName);	
			found = setValue(theInput,value);
		}
	  	if(!found)
	  	{
		  	var theInput = getTagFromIdentifierAndTitle("input","",fieldName);	
		  	found = setValue(theInput,value);
	  	}
	}
	function setValue(inputField,value)
	{
		if (inputField != null)
		{
			inputField.value=value;
			return true;
		}
		return false;
	}
</script>