Stairways Software has released a significant update to the popular macro utility Keyboard Maestro. Version 4.0 overhauls the user interface, adds 64-bit support, and adds support for Growl notifications. Macros can now be executed when hot keys are pressed, held down, or released. Also, Command-Tab can now be used as a hot key, the program switcher can optionally hide all other programs when switching, and the clipboard switcher now offers both a search feature and display of images and rich text. Version 4.0 requires Mac OS X 10.5 or later. ($36 new, $18 upgrade, 7.6 MB)
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Keyboard Maestro 4.0
by Doug McLean 
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Looks good, but with the new upgrade to BetterTouchTool (free), I know which one I'm going for.
BetterTouchTool looks neat, but it's not really comparable to Keyboard Maestro as far as I can tell. Keyboard Maestro is a full-featured macro utility that can perform a ton of actions based on numerous different triggers.
Oh my no, you're not really comparing Keyboard Maestro to BetterTouchTool, are you?