Requires Windows Vista, 7 or 8. Install AutoHotkey, place the downloaded ahk file in your Documents folder, run Autohotkey (it hides in the tray and loads Documents\AutoHotkey.ahk automatically).
I wrote this mainly to get a configurable increase in volume steps (vol_Step is set to 0.5 dB by default), but also added a little bar to show the volume:
The bar display can be disabled. Just check the lines after ; configuration, and edit them to your liking.
Right now it works by pressing multimedia key Volume_Up, Volume_Down and Volume_Mute (or Win+End), but this can be changed as well. Might interfere with some other OSD software - haven't checked.
Edited by xnor - 12/4/13 at 5:35pm