Ah you mean the ESC key posting? That's what I've been using all these years as a
workaround, but that is not a real solution.
The ESC solution is different and more awkward to type than a real meta key. For one it is in an inconvenient location, and more importantly it's not used like a modifier key because you have to press and release it before typing the combination character. So instead of pressing and holding Meta, then typing the dot key, then releasing both (to get the last argument of the previous command line in bash for example), I have to press ESC, then
release ESC and then type the dot. If I don’t do that, and hold the ESC key down, the repetition kicks in and that breaks key sequences.
But I really want to press and
hold meta, press the dot, and then release them both at once. Exactly like the combinations that you use with the Ctrl key, or the Mac keyboard commands you use with the Command key. I want to use the meta key like the Ctrl key, which is the natural way to use it. The ESC fallback is a less convenient substitute which we’re forced to use, unfortunately... But I hate it.
So, if you know of a way to assign the meta role to some key
other than the Option key in a way that allows me to use it like a real modifier key that can be held pressed without going into repetition, then
that would be the solution I am looking for. And I guess the “other key” can pretty much only be Caps Lock or Fn.