Great post! I've implemented the same but used Apptivate to bind most of the apps to be able to both launch the app/bring it to the foreground as well as hide it again. 

Would you mind explaining how you configured Adium to directly jump to the most recently updated chat and cycle through various chats with unread messages? I can't seem to find it..

Link for anyone else who wants their iTerm2 to act as Visor: http://technosophos.com/con...

I really like iKey for launching, scripts and doing automation for me:
http://plumamazing.com

I did this exact same thing before Steve Losh's blog post!!

I also have a second modifier key for opening files, or mainly plain text files and notes. For example file+T opens my todo list. I switched from Notational Velocity to TextEdit last year, and that modifier key combined with Alfred makes opening notes just as fast or even faster.

I think Apple's keyboards should have something like an app key or Spotlight key, or something like what the Windows key has become in Windows 8. Pressing it once could open an Alfred-style Spotlight window, and app+F could open Finder by default. Shortcuts for applications are one of the most useful general UI features that OS X doesn't really support out of the box (if you don't count Automator services).

Any lefties out there have ideas on what key to map instead of caps lock? I just noticed that Brett's set up is righty specific (right hand on mouse, left hand on left side of keyboard).