I'd argue that the 2003 version has a nicer interface, but I'm biased (and this screenshot is just one dialog of three.) Besides, the Type Key stuff allows you to try and remap keys that might not be on the 2003 version of the on-screen keyboard, like media keys and the like. Just an alternate approach 
Otherwise, you could also edit the Registry directly - for me, it was more about exposing the Windows functionality (and avoid physically popping off the cAPS lOCK key from my keyboards.)