The missing element that makes Create Link a "semi-" equivalent to the link-prepping, time-saving powers of CoLT, and even its direct Firefox inspiration, is that Create Link only works from its Chrome toolbar button. That means it grabs the title and URL the page you're currently on, rather than letting you grab the link text and URL from links you right-click on the page. That's more of a Chrome extensions deficiency than Create Link's own fault, but it must be pointed out.
Create Link is, however, open-ended in how you format your links, allowing you to prepare text for blogging, forums and bulletin boards, and anywhere else you need to write in HTML style or paste in URLs or page titles. It's a free download, works wherever Google Chrome extensions do.
