Sounds stupid, but I built a new computer with Windows 7, and the function keys on my wireless MS keyboard work as intended (ie. the F5 key also has the "open" function labeled above it). However, pressing F5 in Visual Studio results in the same behavior.. instead of starting to debug an application. Sounds simple to fix, but resetting defaults in VS doesn't change anything. I'm sure I'm missing something very small. Is there a way to ensure the keys are mapped as the targeted application (in this case, VS) defaults?
Your keyboard should have an "F Lock" key that you can use to turn off the function key functionality, and let the keystrokes go as they normally would to the application.