Rename a Track in iTunes from the Keyboard

Press Up or Down Arrow to go to the track in iTunes.

Press and hold Command and press Return.

Command is the Cloverleaf ⌘ or Apple  key.

The Track Name will now highlight and become ready to edit as shown:

Enter the text of the title. Here the Title of the track is Amen.

Finally, press Return.

Press Down Arrow to move on to the next track, or Up Arrow to move to the previous track.

If you have made an error, just press Command Return again to edit the track name once more.

Apple has quite a list of keyboard commands for iTunes at:

http://www.apple.com/itunes/how-to/shortcuts.html

including useful things like Prevent iPod from automatically updating when you connect it to your computer.