re.iTunes 7 killed my shortcuts
Typical Apple, changing things just for the sake of it ..
Anyway, until they address this in a future release, here's a workaround:
First, make sure iTunes is not open.
Go to System Preferences / Keyboard & Mouse / Keyboard Shortcuts tab:
Scroll to bottom of list, highlight "All Applications", press the "+" sign and in the dropdown menu, choose "iTunes" from the list.
Now where it says "Menu Title", you need to type EXACTLY the command which apears in iTunes menu bar (Case sensitive) - Therefore..
Type "iTunes" and for the shortcut type command (apple key) and "1"
Type "Show Equalizer" and shortcut = command + "2"
etc..
Open iTunes and your shortcuts will be faithfully restored in all their glory.