If its for a RaspberryPi based MD, why don't you try the latest CEC control that phenigma and tschak implemented?
That remark was more to specify the pricepoint. Also then you lack the airmouse. However for that setup with a tv that supports it it is probably the best and easiest solution. I try to find the best remote price quality wise for lmce instead of just fixing my own situation. I noticed that while having a joggler, android tablet and phone at hand the airmouse (gyration remote) is still the device mostly used; its flexible regarding location but always at hand, almost always charged and fast. Best would be if we can find a device that does the job below well or around the $20 mark. I ordered that remote so will try it when it arrives.
more suggestions still welcome....