Script Software has released iKey 1.0, an automation tool for Mac OS X 10.2 or higher.
iKey can be used to make keyboard combinations or menu items that launch applications; show/hide all windows; types text with a keystroke; launches a document in any application; navigates to a specified URL; accesses a folder; and more. You can use the utility to choose any hot key, menu item or a user selectable, time/date to control an action or shortcut.
Multiple shortcuts can be combined into sequences to perform repetitive actions, save keystrokes, clicks, and typing in any application and between applications. iKey costs US$20 to register.