I stumbled across the following video via my new favorite site, reddit.com.
http://www.youtube.com/watch?v=7Uv45y6vkcQ&search=bump%20key (Update: the video was removed for violating YouTube's Terms of Service)
Its a video from Germany talking about "Bump Keys". Bump keys are normal keys cut to the maximum depth. You then put the key in the lock and tap it with something hard like a screwdriver handle. 90% of key locks can be opened in under 10 seconds with this method.
Even better I found a link in the comments of the story to this pdf which explains the whole process in detail: http://www.toool.nl/bumping.pdf (Update: link is now 404)
Furthermore I found a link to a Bump key auction on ebay. Sure am glad I got mine before they ran out...