I could have sworn that AppleScript supported setting system sound volume. I think that some of the voice recognition scripts included that function, even...
OK yep... here's the entire script for changing volume (alas, it only works with absolute numbers, not relative ones):
where 0 can be any number from 0 (silent) to 7 (maximum).
This service is provided by the Standard Additions suite, you can open its dictionary in Script Editor for more systemwide goodies.
Standard Additions doesn't seem to have a "get" call for volume, so I don't know how you could make a script that takes the current volume and adds/subtracts one level. But perhaps some other scriptable program (or some downloadable scripting addition) does...
Also, there is probably some way to crack Bezel Services, which is what provides the volume, brightness, etc. keys on Apple's laptops and LCD panels. Well, that is, Bezel Services provides the cool overlays.
Panther will recognize generic volume keys, but won't show the nice overlay. (I noticed this when I hooked up my MS Internet Keyboard Pro, and found that some of the multimedia keys worked even before I installed the drivers... it seems there's now an HID class for multimedia buttons.)
I hope this helps
tooki