I realize this thread is old, but it comes up high on the web search results, so I wanted to save others some trouble. Here's the easiest way I've found using only the built-in keyboard accelerator keys of Windows Explorer:
Alt+f w t
(Alt+f opens the File menu, w opens New, and t creates a new text file in the opened directory ready for naming.)
Similarly, use of the Apps key (or Right-click) followed by f w does the same thing (though this can be tricky since it is context sensitive, requiring current pointer placement/selection to be in an empty area, not an existing file).
This trick works for a few other things as well, including new folders (
Alt+f w f), shortcuts (
Alt+f w s), and Windows Journal (.jnt) documents (
Alt+f w j).
Thanks to these posts at
LifeHacker and
SuperUser for the tips!
NOTE ON LANGUAGE DEPENDENCY: the actual keys to use will vary depending on the language of your Windows 7 installation (see this post at
SuperUser). I can confirm the above works for US English.
NOTE ON INSTALLED SOFTWARE DEPENDENCY: the above works great as long as there is only one item in the list that starts with that letter. If there is more than one item in the "File" or "New" list that starts with the same letter (e.g., w or t), you'll either have to press enter (if the one you want is already selected) or press the same letter again repeatedly (e.g., w or t) to toggle through them until the one you want is selected and then press enter. If this is the case for you, then something else like AutoHotKey might be the way to go.