Personally, as long as they stand out from the text and are in color, I don't much mind. Maybe I've gotten used to non-underlined links because many designs see

Personally, as long as they stand out from the text and are in color, I don't much mind. Maybe I've gotten used to non-underlined links because many designs seem to use them. For what it's worth, on my design I've made the compromise of underlining them on hover.