I just switched from hotkeynet to keyclone (still using hotkeynet to start up my windows and resize/set affinity, etc) and the reason i originally went to HKN was for its "white list" functionality. I didn't want every single key sending to all windows (90% of the time) and I didn't know about keyclone's whitelist.

Whitelist is the best way to go. For "showing off" in towns i just use the DNP override, and then i can do things on all windows. Just put the mute and DNP keys near each other, so you can switch between them. I love the beeps, and the notification window. I've wiped a couple times before i was using keyclone because my alts were on mute...