Purple Ghost Software has released Key Ace (ttp://www.purpleghost.com/news.php), an US$9.99 hotkey utility for Mac OS X that lets you assign actions to various key combinations.
You can configure shortcuts for daily tasks such as opening browsers or controlling play, pause and stop functions on iTunes. ou can specify any key combination to be used as the hotkey to activate the specified action.
There are many actions you can specify for a hotkey. These include controlling iTunes (play/pause, next track, prior track, stop), launch any application on your system, open any website URL, eject your CD/DVD, adjust system volume up/down, and send any keystroke.
You add hotkeys to groups and each group can be setup to have the hotkeys in that group work in all applications, work in only the specified applications or to work in all except the specified applications.
Key Ace installs as a system preference pane. This lets you change hotkeys and change Key Ace settings.