I didn't think about mentioning keyboard shorcuts sorry.
I've been using launchy for years (to steal one of the good ideas of mac UI ^_^), where you pretty much type the first letters of any application of folder or whatever to get it recognized(so a shortcut to everything really). for that reason SSD.exe made more sense to me because once you can create a shortcut, launchy can recognize it as an independent software and start it. so in effect I'm using alt+space then O enter, for the odac and alt+space, S enter for speakers ^_^. I tried 2 other exe that had shortcuts, but one would pass through all my outputs even the virtual ones or hdmi(super annoying) the other could do a selected switch but the shortcut was a problem for me while under photoshop(first world problem) ^_^.
that's why I said that depending on your needs and OS there might be better than my suggestion. anyway it's cool if you have found a convenient solution.