Hi Nate
Yes that shortcut is great, but to be even more specific, holding Ctrl while using the move tool isn't just the shortcut for selecting AUTO SELECT LAYER, what it actually does is trigger the OPPOSITE of what the AUTO SELECT LAYER check box is doing.
So if ASL is NOT checked, holding ctrl will temporarily activate it. But if ASL IS checked then holding ctrl will switch it off temporarily.
Aren't I an old fuss pot!