I have a Microsoft Comfort Curve keyboard (KU-0459). It features a set of buttons for volume control. The interesting one is "mute".
I also have a set of USB speakers (Logitech S-150), and a set of headphones with the usual 3.5 mm green/pink jacks going to my on-board sound card.
I am on Windows 7 Ultimate.
I am able to selectively mute the speakers by going into Control Panel -> Sounds -> Playback tab -> Right click speakers -> Disable. I'm very lazy, and I want all of this "clicking" to be done automatically whenever I press my Keyboard's mute button.
If your answer is "AutoHotkey", it would be very nice if you could supply the .ahk script itself