I've had ALT-F2 bound to New Terminal window for the past 12 years now, through half-a-dozen window managers. ALT-F1 is new browser, and I've got some preferred CTRL-ALT-arrow keys for moving around virtual desktops. Everything has configurable keys and has for a long time, though sometimes you have to create a one-line shell script to pop up a terminal, find your local menu editor, add that script, then give that menu entry a shortcut.
Xmonad is entirely unlike Gnome, KDE, XFCE et al. And thank goodness because I don't like 'desktops', overlapping windows and what not. Xmonad and its brethren wms give me what I want out of a GUI.