I had the same thought on using a page jump on a "guide" command for both my DVD and my TiVo so that I could use the cursor keys as transport keys in normal mode and as cursor keys in "menu" mode. However, it occurs to me (I haven't actually tried mine out yet -- see my battery thread...) that there is no reliable way to automatically jump back to the transport mode.
Both the DVD player and the TiVo box can have multiple levels of menus so you can't just jump back to the transport page when "select" is pressed (you may just be going to another menu where you need the cursor keys).
Of course, you could use the "exit" button to get you back, but that's an extra keypress that doesn't do anything with the AV equipment -- just the remote. While I think I can probably get used to this, I imagine it will drive my wife batty.
Have you actually set yours up? Did you handle this problem in some clever way I haven't thought of?