Keyboard re-mapping software lets you assign the Caps Lock a different function or completely disable it. You can also assign a far-to-reach key the funcion of Caps Lock in case you really need it.
Of course this kind of software goes far beyond that. It can let you assign any key almost any function - changing a letter, launching an application, sending keystrokes, sending a command such as "maximize a window", etc.
Let's share in this thread suggestions for free- and shareware keyboard re-mapping software.
My own suggestions are:
freeware: http://www.seriosoft.org/en/index.php - it can change any key on any keyboard, thus it gives you full control over multimedia keyboards' additional keys. It's rarely updated and has a few bugs, but the biggest con for international users is that it is available only in Russian.
shareware: http://softboy.net/key/index.htm - excellent in features; has all the features of the freeware above plus more. I haven't used it for a long time so I cannot comment on bugs and support; interface is somewhat cheap looking.