Login or Register

I have a login widget on my homepage http://www.massivesolution.com and i have two issues….

Firstly when no one is logged in i would like it to say Login or Register with the Register word linked to a registartion page.

Secondly when logged in how do i put a link into the widget called My Profile that the user can click on to open and edit there profile.

I am using the PRO version.

Thanks

http://wordpress.org/extend/plugins/user-meta/