VolumeTouch: Adjust your PC volume with your mouse
Here's how it works, you hit the Ctrl+Shift buttons and then move your mouse scrollwheel up and down to adjust the volume. If you don't like those button combos, you can choose a different key combination, or choose a different mouse behavior. VolumeTouch lets you control the volume by moving the mouse up and down or left and right as well.
You can also choose one of 5 skins for the tray icon. Some skins look better than others, but each gives you a real time view of your volume level.
[via Freeware Genius]