I already have my capslock and control key swapped by editing the IOUSBkit, but I wanted easier access to my escape key for tcsh, emacs, and vi. The solution I found? The option key works as the Meta character!
The way my hand rests on the keyboard, the lower right portion of my right palm rests gently on the option key, all i have to do is press down slightly and I have INSTANT access to the Meta character! Its MUCH faster and easier than reaching for escape, even on a *real* keyboard layout!
One note, you have to hold down the option key while pressing the next key, unlike with escape where you press it once. Again, to me, this is a feature, as now I needn't go back and forth between escape and "f" to jump forward by word, I just hold option and keep hitting "f".
[Editor's note: I had mixed luck with this during my testing. Sometimes emacs would see ESC-f, other times I wound up with a backwards search request. I couldn't quite tell what I was doing differently each time, but the behavior was definitely changing. So I can't say that I was able to verify this tip, but I thought others might find it useful if it works for them.]

