Comment 16 for bug 194979

Solution 1:
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1)System->Preferences->Keyboard->Layout->Other options
Alt/Win key behaviour: Select "Meta is mapped to the Win-keys"

2)System->Preferences->Keyboard shortcuts
Select "Home folder" and press the desired key combination.

It should show "Mod4+E" for win+E for example.

Solution 2:
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1)Run "gconf-editor"

2)Navigate to "/apps/metacity/global_keybindings"
Change the value of "run_command_1" to "<Super>E"

3)Navigate to "/apps/metacity/keybinding_commands"
Change the value of "command_1" to "nautilus"

(This will only work if Alt/Win key behaviour is set to "Default" or "Super is mapped to Win-keys". See solution 1 and adapt as necessary.)

Solution 3 (Same as previous by command-line):
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gconftool-2 --type string --set /apps/metacity/global_keybindings/run_command_1 '<Super>E'
gconftool-2 --type string --set /apps/metacity/keybinding_commands/command_1 'nautilus'

P.S: I incidentally just discovered another gconf entry of interest while searching for the command-line syntax:
/apps/panel/global/menu_key
http://docsun.cites.uiuc.edu/sun_docs/C/solaris_9/SUNWgndoc/GNOMEADMIN/p5.html

Very interesting. :)