Submitted by paulgb
This is not really my entry, it was based from ideas discussed on the blog and IRC. I happen to agree with the suggesed layout, so I made this image as a mock-up.
The caps lock key is removed, replaced with the control key. The OS and Alt keys are moved left, and the space bar is extended. I see this as a reasonable, 'do-able' approach to getting rid of the caps lock key.