Keyboard shortcuts for launching applications?

Is there an easy way to set a keyboard shortcut for launching an application?

For example, I wrote this really neat Automator task that takes a screenshot, uploads it to my FTP server, and puts the link in the clipboard. I'd like to use it instead of OS X's built in screenshot utility. I've saved the task as an application and put it in the Applications folder, but I'm at a loss as to how to set a shortcut to launch it (for example, Fn+F4 or something). The Keyboard and Mouse section in System Preferences doesn't seem to have it, although I may be missing something.

All help is appreciated Thanks!

I believe Quicksilver will allow you to set keyboard shortcuts to open apps. It seems a lot of members here use it. It is donationware, so you may as well give it a try and see if it is what you are looking for.

Wow, thanks Michael! This Quicksilver app is great. And it also solved my hotkey thing

Just as a demo of my awesome screenshot task, I give you this: http://thegoban.com/screens/screen_55440.jpg

Took me two seconds to get that link in I LOVE MY MAC!

Sorry for the double post, but I thought I should mention that the link you gave for Quicksilver turns out to be really outdated. It's not even a Universal binary. Here's the new and improved Quicksilver

Just now discovering the joy of this little app. bye bye dock.

When I get my iMac back from repair (hopefully today or tomorrow), I'll be downloading Quicksilver. It looks awesome.

I keep my Dock hidden, just my personal taste. Whenever I run my cursor to the bottom of the screen the Dock re-appears.