Remember in ancient times, when you used a DOS prompt? Perhaps your command environment of choice was -sh on a Unix system, or maybe you rocked the $ prompt in VAX/VMS. In any case, you probably made good use of command search paths and aliases. In those days, you had command-line interaction and nothing else -- some people even liked it.
Fast-forward to the 21st century, where icon-driven interfaces are clicked with a mouse or touched with a finger. Even in this environment, the ability to type in a command is desirable: the more icons you have, the more desirable it is.
Thus, we find command search (or actually, pervasive search that includes commands) implemented in Mac OS, Windows, iOS, and Android. It's very convenient to go to the Start Menu in Windows and type "Printers" to get directly to that area of the Control Panel. For example, I find the reason most people don't use it is because they don't know about it. The only more convenient thing would be for my device to carry out commands by voice (which is already there on some platforms, in varying modes of reliability).
So it comes to pass that SolidWorks has command search in the latest incarnation -- SolidWorks 2012. You can click on it in the regular search window (it's the one with the >_ icon) or, more conveniently, it's automatically activated and given keyboard focus every time you hit the S key (you DO use the S key for your custom shortcut menu, don't you?)
You can type in part of a command (try "hole" if you're in a part) and you'll get a number of matches. Hit "Enter" and the top match will execute, or click on another item in the list to do that command instead (arrow keys work in the list too). If you want to drag it into the Command Manager, you just rip it right out of the list. Or use the eyeglasses icon to the right of the command in the list to see where it is in your existing interface.
If you want, you can make your own "shortcuts" to commands you use often. Think of these as nicknames. I've nicknamed "Hole Alignment" as "ha" so if I type in "ha" it comes to the top of the list; an Enter key later and I'm using the command I want. You can make these in the Customize interface (there is a new column called "Search Shortcut").
Once you try Command Search, I think you'll really like it. And if you haven't tried it in Windows or on your Mac or your smartphone, give that a shot too. Before too long, I believe you'll be speaking commands to your computer but in the meantime, What's Old Is New.