I use the bash hotkey of <ctrl-r> alot to search my ~/.bash_history and then re-use the commands.
When I learnt about this key sequence it saved me a lot of effort.
Now I have found out about one little addition to this thanks to a Tech Tip in issue #170 (June 2008) of Linux Journal.

Edit your ~/.bash_history and place tags at the end of each command you use regularly by using bash comments, ala #foo.

cd /home/httpd/html #webroot
firefox & #web
tail -f /var/log/everything.log #logall

Now a simple <ctrl-r> web will search my ~/.bash_history for #web and hitting enter will run that command again.
Not exactly a documented feature ( that i am aware of ) but a handy little hack.