What do you think about this plugin

Hello. I try to make one plugin wchich must put rel=”nofollow” after all links in the posts.
Can you say me will it works?

<?php
// main function that does everything
function links_nofollow($inData) {
$inData=preg_replace(“(.*?)i”, ‘$4’, $inData);
$inData=preg_replace(“(.*?)i”, ‘$2’, $inData);
return $inData;
}

// apply filter on 2nd number, making possible for other filters to be applied before this
add_filter(‘content_save_pre’, ‘links_nofollow’, 10);
add_filter(‘default_content ‘, ‘links_nofollow’, 10);
add_filter(‘default_excerpt ‘, ‘links_nofollow’, 10);
// disable wptexturize filter
remove_filter(‘comment_text’, ‘wptexturize’);
?>