4/4 Time:
Space, <
-2-3-4-2-2-3-4->,
Space, Shift+M, 3, Tab, 1, Enter, W
7/8 Time:
Space, <
-2-3-4-5-6-7-2-2-3-4-5-6-7->,
Space, Shift+M, 3, Tab, 1, Enter, W
Look, Ma... no mouse!
Bind Set Measure/Beat at Now to a single hotkey (S is conveniently close to all of Tab, 1, 3, and W), and you're really cookin' with gas!