Assigning programs to specific audio outputs in Windows 7

"Virtual Audio Cable (30$) allows you to transfer audio (wave) streams between applications and/or devices.

It creates a set of virtual audio devices named ""Virtual Cables"", each of them consists of a pair of the waveform input/output devices. Any application can send audio stream to an output side of a cable, and any other application can receive this stream from an input side. All transfers are made digitally, providing NO sound quality loss (a bitperfect streaming).

For iTunes global hotkey: iTunes Global Hotkeys or hktunes

(foobar2000 have native global hotkey and output device choice :p)"