I was thinking about a lot of these same issues about a year ago... I guess I should have made a topic on it then, since it really is an interesting point of discussion.
I call anything which controls access to the world a key; the question, to me, is whether the key has other functions besides that. So we have the spectrum for pure or simple keys to rich or complex keys. I even played around with taking it a bit further, and trying to break down the different types of complex keys by how they granted access to new areas:
x-axis. Denotes keys which provide additional access by increasing horizontal mobility. Ex. Super Metroid speed boost
y-axis. Denotes keys which provide additional access by increasing vertical mobility. Ex. SotN Double Jump
break. Denotes keys which provide additional access by providing ability to destroy barriers. Ex. Metroid missiles
door. Denotes a key with the pure purpose of allowing passage past/through a certain point. Ex. Doom key-cards
area. Denotes a key which provides additional access by allowing movement through a previously hazardous or otherwise untraversible area. Ex. SotN Holy Symbol, Super Metroid Gravity Suit
In terms of interest, x and y axis keys tend to be the most interesting, IMO. Things like double jump and run/dash upgrades add a lot of fun gameplay at the same time as allowing access to new areas. After that are break keys, which unfortunately tend to suffer many of the same problems, as mentioned in the first post, as Zelda bombs. Area keys are somewhat interesting, but usually once you have them they cause whatever special area they allow access to to behave in exactly the same way as standard game areas, so they really don't open up any interesting gameplay. And door keys are the same as simple keys, which is to say boring as hell.
Personally I'd prefer to avoid simple/door keys completely, except perhaps on a per-screen basis (IE find the key and get to the door as a simple puzzle). Spelunky, though it's not really the same sort of game I'm trying to address here, does this particularly well in its sole instance of a literal key, where it's guaranteed to spawn on the same level as the lock it goes to; this makes it an exercise in puzzle solving in a constrained space rather than lugging around something which has no purpose other than opening locks (though, interestingly, Spelunky subverts this as well by making the key one of the most effective throwing weapons in the game).
Another kind of key which is worth noting is a contrived complex key, where there is some sort of gameplay element related to the key but there's no intrinsic relationship between the key and the gameplay element. Most break keys could be considered this way, since it's really rather arbitrary what abilities can and can't break blocks. Another example would be the devil familiar in SotN, which arbitrarily is the only familiar that can open a secret passage for you. This is a utility completely unrelated to his normal function, that of poking your enemies with his trident whenever he gets bored. Contrived keys are better than simple keys, but always ring a little hollow to me and are, I think, best avoided where possible.
Ehm, sorry for my rambling. My thoughts aren't really together right now. Hope someone found that interesting.