$re = '/<a.*?<\/a>(*SKIP)(*F)|"([^"]*)"/';
$str = '<p>This is a "wonderful long text". At least it should be. Here we have a <a href="http://wwww.site-to-nowhere.com" target="_blank">link</a>.</p>';
$subst = "»\1«";
$result = preg_replace($re, $subst, $str, 1);
echo "The result of the substitution is ".$result;
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php