Index: link.module
===================================================================
--- link.module	(revision 345)
+++ link.module	(working copy)
@@ -392,6 +392,9 @@ function link_theme() {
     'link_formatter_plain' => array(
       'arguments' => array('element' => NULL),
     ),
+    'link_formatter_raw_path' => array(
+      'arguments' => array('element' => NULL),
+    ),
     'link_formatter_url' => array(
       'arguments' => array('element' => NULL),
     ),
@@ -512,6 +515,11 @@ function link_field_formatter_info() {
       'field types' => array('link'),
       'multiple values' => CONTENT_HANDLE_CORE,
     ),
+    'raw_path' => array(
+      'label' => t('URL, raw path'),
+      'field types' => array('link'),
+      'multiple values' => CONTENT_HANDLE_CORE,
+    ),
     'short' => array(
       'label' => t('Short, as link with title "Link"'),
       'field types' => array('link'),
@@ -552,6 +560,13 @@ function theme_link_formatter_plain($ele
 }
 
 /**
+ * Theme function for 'raw path' field formatter.
+ */
+function theme_link_formatter_raw_path($element) {
+  return empty($element['#item']['url']) ? check_plain($element['#item']['title']) : $element['#item']['url'];
+}
+
+/**
  * Theme function for 'url' text field formatter.
  */
 function theme_link_formatter_url($element) {