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Holding the letter is the new way. Back in the day we had to use Option.

What do you precisely mean by "back in the day" ?

I've been "holding the letter" for 5 years at least.

I started using Mac OS X in 2003 and my habits are from that time. The Option + key was the only game in town then.

I’ve also used System 6, 7 and Mac OS 9 so I have habits from that time too.

I prefer using ⌥ to be honest, because I like my key repeat.