I try to anchor text my site onto myspace.

And I know i'm doing that properly

But, when I highlight over it, I see "msplinks209279002001" (and a random number sequence)

How do I get it where I can insert my link into Myspace and when I highlight over it, is says what my URL actually is?

You can't. Myspace changes what you input on the server, then regurgitates it as a msplinks link. Wait until you get into flash. Myspace screens everything you enter, changes some of it, nullifies some of it, and masks the links as you have noticed. Nothing we can do about it.

Why should it matter?

It matters when I see other people can do it, and seem to have a search engine edge over me (backlink status)

I read something about a GreaseMonkey, I believe it was called.

And I do see that SOME PEOPLE know how it's done. But I haven't really seen anyone show anyone else how it's done, or what it's called.

Maybe you know how it's done.

GreaseMonkey: https://addons.mozilla.org/en-US/firefox/addon/748

Greasemonkey is a firefox extension that allow you to run javascript in your browser (and yours or those who have installed the javascript addon) to modify the way a page react.
It's great if you know what you do, you can customize the way a web page react to your needs. But you have to really know javascript to use it, or to find a good addon. Look at http://userscripts.org for them.

Allows you to customize the way a webpage displays using small bits of JavaScript.
Hundreds of scripts, for a wide variety of popular sites, are already available at http://userscripts.org.
You can write your own scripts, too. Check out http://wiki.greasespot.net/ to get started.

And I do see that SOME PEOPLE know how it's done. But I haven't really seen anyone show anyone else how it's done, or what it's called.

Trust me, you can't do it. Maybe if you become a Myspace partner (paying customer) they will let you do it, but I think that status is reserved for corporate types. These links still count as backlinks, although they are not as effective as normal links, because the msplinks link links to a intermediate page that has a regular link to your site. Basically, they are trying to warn people that they are leaving Myspace, because of phishing schemes in the past.

and seem to have a search engine edge over me

Highly unlikely, and if you are posting links at MySpace simply for some dubious search engine benefit you are wasting your time.

@Lashtal
FYI, the greasemonkey addon isn't going to change the links in your profile for everyone else
to see. It will only work in your browser. Everyone else that visits your MySpace page would
need to have it installed in their browser also, as tripy pointed out.

Also, there are many profiles that don't show the new msplinks because the policy only affects
profiles that have been edited since the change. If you have not edited your profile since the
change, all your old links would still be there.

And yes, there is a way to do it. I have all my links on my profile showing their true destination
in the status bar. But, I'm not going to post it here.

So some people are saying it CAN'T be done.

While this last guy is blatantly saying that it can, yet is rubbing it in my face by saying he wont say a word about how he does it.

So...

Anybody here brave enough to show us how it's done?

Okay, so i'm gonna' trust ChrisChrist here, 'cause he's always helped me out so far; and he's always been right. So i'm going to listen to him.

I was confused for a moment, but I trust him here.