After using Keybreeze for a total of ten minutes, I was pretty much dumbfounded and annoyed by the user interface and its overall appearance. Indeed, the application does use less resources than Launchy, but it is not very user-friendly nor intuitive. Some applications require as much as one letter, while an app that starts with the same letter might take a whole word to find the right program.
Also, adding in new programs was an eyesore. Adding a miscellaneous program on a different partition took about 3-7 clicks to add it in along with associating it to a key command. Although I do appreciate the programmed hotkeys for typical searches like the dictionary, Wikipedia and the sorts, there is a very slim chance that I would actually use the other features like checking the theatres or the weather.
Whereas the macros function is a very useful function, I would rather stick with Launchy and tell it the directories that I want indexed.
All in all, Keybreeze is a good program, but not exactly for beginners and impatient users. Honestly, this program has more features than it really needs. Stick with launchy for those who want immediate results and an easy-to-use interface.