That's a nice idea but what's wrong with using the single knob press? It doesn't change any current functionality except the sound options (how often do you need to change balance, loudness etc?) get moved to press-and-hold if you don't use hijack. The knob press is underutilized and I think the seek feature is important enough to be assigned to the single knob press.

The reason I don't like chords is that they're not really intuitive if you ask me. Plus if you miss the chord, you skip tracks by accident. Maybe if some new features are added we use chords for those, but I think seek deserves the prominence of a single knob press.

Let's wait until other people chime in and we can do a sort of unofficial vote. I know someone's going to say "make it configurable" but too many config options becomes a nightmare (as anyone in my test team at work will tell you.)