Maybe with haptic feedback that'll change, but for now any attempt to move mechanical keys to touch-screens are, for me, a net negative just because of the basic facts of reality.
Anyone with a child that has access to a tablet can tell you that touch-input is succeeding.
The way children use toys is not the way adults use tools. Touchscreens have proven great for "consumption" devices like phones, and have proven pretty terrible for most everything else.
I'm not being too hard on them I should say, but anyone who thinks traditional input devices will be replaced in general purpose computing with touchscreens ignores decades of history and basic physical reality.
A touch control there could present a more intuitive interface--tap the control you want, then use a touch slider to adjust with great precision.
Another idea I saw in a blog post was to put a scrubber control there during video editing. Currently the trackpad has to serve double duty controlling the features of the application, and controlling the scrubbing of the content.
The function keys are a UI mess. Each serves double or triple duty, and the duties sometimes change with OS releases. For example, the Dashboard key on my Macbook Pro no longer activates the Dashboard.
This is just like the situation on smart phones when they all shipped with physical keyboards. Each tiny button on my Blackberry had at least 2 different functions. As Steve Jobs said, "we solved this problem with a bitmapped screen and a pointing device."