Ubuntu shortcut key modification.

$ gconf-editor

/apps/metacity/global_keybindings Edit 'run_command_1' etc, to the key-stroke. e.g. z to set left win button + z. Watch that there's no space there.

/apps/metacity/keybinding_commands Edit 'command_1' etc, to the command to run, e.g. gnome-terminal

..... didn't work. I found that pressing 'z' without the win button launched the terminal.

Try xbindkeys:

sudo apt-get install xbindkeys
sudo apt-get install xbindkeys-config
xbindkeys
xbindkeys-config

Tested. It worked.