The landslide results against the four hardware toggles I think, as I said before, are more likely to do with people wanting a dedicated Escape key rather than their affinity for Bluetooth, WiFi, 3G, and HDMI all on one button. How does one fit four hieroglyphics on a single keycap when ED already said we can have only put on three per key?
Actually there are even 5 hardware toggles that have been mentioned so far: Bluetooth, Wifi, 3G, HDMI, and USB.
It's a bit hard to decide now which ones will actually be useful -- if you only gain 1mW by switching something off that could also be on all the time by default, we don't need a button for it.
Maybe it's better to give the button a generic name, and use it as a kind of modifier. E.g. call it "Hardware" and then make it so that Hardware+B toggles Bluetooth, Hardware+W toggles Wifi, and so on. For 3G we could use Hardware+3 or Hardware+M or Hardware+D (for Mobile Data). Who knows what other stuff we will want to toggle. Maybe we'll want a good old Turbo button (to toggle between low-power mode and high-performance mode)? Make it Hardware+T then. Maybe a button to toggle the GPS? Hardware+G. And so on.
Of course we could make it configurable what happens if you simply tap the "Hardware" button without using it as a modifier with a letter: it could then toggle the thing you want to toggle most often (which could be 3G for some people, and HDMI or Turbo or whatever for others). And also Shift+Hardware tap and Meta+Hardware tap and Ctrl+Hardware tap and Alt+Hardware tap and all combinations of those could of course be assigned actions.