Thanks for the quick reply Jeff but that's not quite what I'm looking for.
I'm looking to replace a clip in the middle of a sequence. Right now I: Click the clip, press PGUP, press I, press PGDN, press O. Then I overlay the clip from the souce monitor.
I'm wondering if there is a single keyboard shortcut to replace those four keystrokes.
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Don't quote me on this, as I might have changed them from the defaults, but pressing the '/' (forward slash) will mark an in and out around the currently selected clip or clips (also includes gaps), and is independent of track targeting; pressing 'Shift+/' will mark the clip under the CTI (not including gaps), and is dependent on track targeting. If these are not the defaults, check the shortcuts by going to Edit > Keyboard Customization > Application > Marker > Set Sequence Marker; both options are present there.
Note that you don't have to do this, though, as there's an even simpler way to replace a clip. In the Source Monitor, mark the in point you want, and then drag the clip to the clip instance in the sequence you want to replace. Hold down the Alt key and you'll see an outline appear around your target clip. When you release the mouse, the clip will be replaced and the in point you set will be mapped to the in point of the clip instance already in the sequence. You can also set a keyboard shortie for this under Application > Clip > Replace with Clip. This is a really fast way to re-edit a sequence.
Brilliant Colin, that Alt+drag is exactly what I was looking for.