Those underscored letter shortcuts were not very practical, I think; you’d have to look them up (every time?) in the submenu and by the time you’d found them, you could just as well just click on them (unless you have an extremely good memory!).
The one shortcut that hasn’t been mentioned yet, is Q, for the quick favorites…this is extremely handy!
Furthermore, I wouldn’t change too much in the Preferences to begin with, you’ll find out what works best over time…everybody is different and what one person likes, might not be good for you! For example, the drag search that Dwayne mentioned is loved and used by many, but I absolutely hate it and it slows me down, because it activates every time I miss a connection…