How can I create a keyboard shortcut for LaunchPad on OS X Lion (10.7)?
You can also set a shortcut of your choosing by adjusting Lion's built-in keyboard preferences. If you go to System Preferences --> Keyboard, one of the settings menus on the left side bar is for Launchpad &amp; Dock. 

Make sure the check box next to 'Show Launchpad' is selected, then double click to the right under the listed shortcut to turn dock hiding on/off. You'll see a data entry box selected, and you can then enter whatever shortcut you'd like.