Application to access scripts with Keyboard Shortcuts

If this behavior has changed in Mountain Lion, please let me know. In Snow Leopard, It seems that the only way to run an application by assigning a keyboard shortcut is by selecting a menu item. Would it be possible to create an application for the sole purpose of launching applescript applications from the keyboard menu. For example, if an application is added to the launcher applications folder, it will automatically be shown in one of it’s menus and therefore be able to be called from a keyboard shortcut ?

FWIW, apps like FastScripts already enable that, with contextual support to boot.

Thanks Shane … I had not seen that before.