1. easy to implement
2. effective
3. linked
4. selectable text
I found a blog where this guy put nine different obfuscation methods on one web page, and let it sit for a year and a half. This graph shows the effectiveness of each method. Using all of this data, I decided Javascript was the way I wanted to go. For extra simplicity, I went with jQuery
<a class="obfuscate">example<span class="replaceAt">-AT-</span>gmail.com</a>
<script type="text/javascript" charset="utf-8">
$(".replaceAt").replaceWith("@");
$(".obfuscate").attr("href", "mailto:"+$('.obfuscate').text());
</script>
The first line replaces the whole .replaceAt span (including tags) with an @, then the second line takes the constructed e-mail and sticks it into the href of the <a>. Those without Javascript installed will see example-AT-gmail.com.