I stumbled across this useful feature workaround today, when I was trying to work out how to export my Spotify playlists to something more usable – such as plain text or html.
Although there’s no programmatic way to extract playlist information (that I know of), you can highlight tracks and copy and past into another application. Each track is copied on its own line, as “[Artist] – [Track Name]” and is a hyperlink to the associated track.
Incidentally, the reason behind my tinkering with this, is that I wanted a automated way of synchronising playlists between Spotify and iTunes, although I suspect the Spotify team may beat me to this with the rumored “My Music” feature.

sadly this doesn’t work anymore
This does work. Top work around, cheers matey!
Worked for me!
The reason why it will work for some folks and not for others depends on the application that you paste into. Some apps re-interpret the links for you and simply paste the target of the link. Some apps leave them as the intended links. If you are having problems, try pasting into a different application.
im currently trying to find a way to export my spotify playlist to my itunes… obviously not the media files, but the playlist info. what you’ve said does work, i figured that bit out a while ago (you need to paste it into word or something like that, not notepad) but it doesnt actual help my mission lol
when i find a way, i’ll come back… i may never be back