Pause/Break key on modern keyboards

Is there still a use for this key in modern operating systems? I know back in the days of the rapid fire dir /s on ten thousand files in DOS 5.5 this key was indispensable, but is it needed anymore? If not, can I remap it to do something else? If so, what?

In Windows, Windows + Pause/Break opens up the System Properties window. Not exactly relevant to what the key was originally designed for, but still quite useful!