This is the way.
I use
Main keys:
Additional keys:
They decrease in importance with the modifier key. So for example, my defensive keg will have X as my primary defensive (iron fur), X+Ctrl as my short cooldown defensive (bark skin) and X+Alt as my long cooldown defensive.
I use a keypad, which is particularly useful with this approach because it has a directional pad and space bar that can be operated with a thumb, leaving four fingers for abilities at all times.
Then I put targeting stuff on mouse wheel (same principal, mouse wheel for next/prev enemy, Ctrl + wheel for next/prev friend, etc.) and jump and autorun mouse 4 and 5.
Oh and I also have some misc oPie rings (hearthstones, professions, etc.) bound to like Alt and Ctrl with mouse or out of the way keys.