I would like to program the Play/Pause button to answer and hangup calls. The windows Play/Pause key is 179 or 0xb3.
I found it. Edit the file
C:\Users\<your user name>\AppData\Roaming\Skype\<your skype user name>\config.xml
Change mod = 0 as seen below. Exit skype and Restart.
It will display 'G' as the hot key which is fine because I'm not near my keyboard when answering skype calls. The <b003> is the hangup code which I programmed to fast foward button which is the 'P' key.