Some might call me a noob, but I'm much better with the scroll wheel. I learned to play Minecraft on an Apple Magic Mouse, which didn't even have a scroll wheel. You just rubbed your finger along the top and hoped it would take you to the correct slot. After playing on that for over a year I got a Razer Deathadder and it was heaven. I'm much better at scrolling than using hotkeys, and can accurately switch instantly.
+10 for Scroll Wheel
Inventory Setup:
1 - Sword/Weapon
2 - Bow
3 - Golden Apple
4 - Food
5 - Food
6 - Flint & Steel
7 - Flint & Steel
8 - Primary F&S
9 - Fishing Rod
Using this I can easily switch from sword to bow, sword to fishing rod, sword to fs, fishing rod to fs, and then bow to golden apple. And then fs to fs, etc. Everyone has their own idea of a perfect setup, and I change mine up about once a month, but I enjoy trying out different inventory setups.