Robert.. Oh, gosh, yes! And I am not a slow typist. I use it mostly for signature lines and passwords. Now that means that your passwords are on your desktop so may not be a good idea if other people can get to your computer. But I sit at my husband's computer and type P1 and nothing happens before I remember I don't have my shortkeys.
I try to use abbreviations that relate to the word or phrase but is not used commonly in typing - combination of letters and numbers or maybe throw a period in the middle. For instance I just type 'sc.com' and my whole URL pops up or scemail and my email address pops in. Or how about 'cjpass' which keeps me from having to remember my password for commission junction. It's not shorter, just easier to remember. You can even write a whole message out and save it as a 2 letter shortkey. I love it as you can tell.
Christy