I was annoyed with having to type in my keyring password every time I log in to my Wi-Fi (NetworkManager connects to the available Wi-Fi networks automatically at startup).
I found a solution that I am not asked for a password for the default keyring anymore. The solution is pam_keyring, which is a PAM Module.
It will unlock the default keyring with your gdm login password just after your login to the gnome session.
In Gnome 2.20 (included in Ubuntu 7.10) this behavior is implemented by default. It will automatically unlock the keyring after logon. Have a look at the Gnome 2.20 Release Notes.
To make a long story short, this is what you have to do on an Ubuntu 7.04 (it may vary on other distros):
@include common-pamkeyring