The Windows speaker icon is one of the most primitive aspects of Windows that still persists in Vista and there must be a better way of doing things.
VolumeTouch aims to do exactly that by allowing you to control Windows speakers from your mouse. With VolumeTouch you can adjust the volume instantly from any application without leaving your work. The utility is very simple to use - simply hold down Ctrl+Shift and use the Up/Down arrow keys or your Mouse Wheel to adjust the volume. You can then use Ctrl+Shift+0 to mute or unmute all sound. Note that this works for any Windows program and it allows you to configure other special keyboard and mouse shortcuts if you prefer. You can instantly mute Windows sounds with key combinations and choose from 5 different skins. Plus you get Easy access to Windows Control Panel for advanced volume options, the Sound Recorder and Audio Properties. Note that to remove the old speaker icon, right click the VolumeTouch icon, Select Adjust Audio Properties and Uncheck "Place Volume Icon In Taskbar" select OK.
Remove your Windows speaker icon for good and use the mouse for quicker access to your volume controls.