This would be very convenient. I use web inspector for all my web development needs. And if you're anything like me, you like to use the keyboard as much as possible. Switching to the mouse just slows us down. And I often need to open and close web inspector as I go (especially when I inspect iframes and need to refresh web inspector). It would be very convenient if ⌥⌘I was not only the keyboard shortcut for opening web inspector, but also for closing it so I can just keep moving. I'm surprised it doesn't already do that.
Timothy, we do as suggested in Chrome (in case of docked mode). You might want to make Safari users happy as well.
We have a bug tracking this internally for Safari. We should close this, since there is nothing to do in WebKit.
Timothy: Can you link to the Safari ticket? I can't find it and would like to track its progress.