I would like to add to this thread. The functionality that Ralphdp is looking for is something I've been hunting all over for.
If I understand this right, the goal is to have a fn-lock key, much like caps lock, that toggles the function keys from Apple default usage to function keys and back with only one keystroke necessary to make the switch.
This would be much more convenient than having to toggle the option in System Prefs each time function keys are necessary in a certain application.
Also, my keyboard doesn't HAVE an fn key. I have the new iMac aluminum keyboard, and there's no key available to swap the function keys for Apple default keys (Expose, Dashboard, etc).
This would solve a lot of headaches for Photoshop, World of Warcraft, and Quark users out there who want their function keys and an easy way to switch to the Apple function keys on the fly using a non-laptop keyboard.
Ideas?