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It's more standard (in the sense that the Sun keyboard did this) and more useful to map it to ctrl. You can use ^[ to get esc.

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I found it pretty useful to do both. A quick press is esc while holding it down is ctrl. I do find caps lock useful enough to keep it around still, so hitting left shift + right shift toggles that.

TIL! I'm so used to binding it to esc but maybe I'll give ctrl a go

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