But "Click Here" works

Beat me to it Jay! It is indeed bad practice in terms of accessibility.

I also have problems with the ’people respond to a demand’ argument, simply because there are much more interesting demands you can make. ’Order now!’ is an imperative that actually tells the user what’s going to happen when they click the link. 

Turning the argument on its head, I generally prefer links to be imperatives that make sense being given by the user, such as ’confirm details’. These can often be read both ways though: ’open account’ can be interpreted as an order issued by the user, or a demand for the user to do something. Hopefully they’ll interpet in whichever way suits their personality!

Mike