I hope that the "Select objects only by path" option in the "Preferences" can be set with a toggle key, so that you can quickly switch between the two selection methods. These two options each have their own advantages and disadvantages, so that you can choose when needed. You can set shortcut keys or hold down a key to use.

It is possible to achieve this with a script.
There are many variations of this, but I like this compact one by Oleg Krasnov:

app.preferences.setBooleanPreference('ShowExternalJSXWarning', false);
(function () {
var n = "scaleLineWeight"
, m = "scale strokes"
, state = app.preferences.getBooleanPreference(n)? 0 : 1;
app.preferences.setBooleanPreference(n, state);
return m + ": " + (state? "on" : "off");
})()

Save it in a text file with .jsx format.
Then you can put this script into the dedicated Scripts folder, record an action to call it, and assign a hotkey to the action.
Once it’s set up (and backed up! actions can be lost on updates) — it just works.

The request is a legal one, sure. Voted.

I agree. Many tools and plugins allow you to change how something works while keeping the mouse button down. For example: While using the pen tool, you can move the current node by holding the space bar.

It would be great if I could select an object, then while using the scale tool I start to click and drag, and while I'm still dragging I press spacebar (or some other key) to toggle between scaling the stroke/effects.

Very much needed

Stephen is right with the workaround, but I say this here and there: an action which has only one operation recorded is a bad action, a consequence of Illustrator’s inability to assign direct hotkeys to panels’ menus.

I believe every command in Ai should be assignable to a hotkey.
Here is the request you can upvote about this: https://illustrator.uservoice.com/forums/333657/suggestions/31609237

You can use the Action panel to record two actions - one turning it on and the other turning it off via the Transform Panel (click the 3 lines and tick it on or off). You can assign whatever keys you like to enable or disable Scale Strokes & Effects. I turn it on with F9 and turn it off with F10.

Please put the "Object Selection By Path Only" in the MENU BAR.

It is very useful when drawing but HORRIBLE when selecting images with WHITE background. Going to prefs and changing it is utterly waste of time and work flow flow. I actually think it could ver well be in the RIGHT click drop down menu as well.
Thank you

Yes please

I can's believe Adobe can't handle basic usability things like this.
( or actually I can, I have learned what to expect from Adobe)

IMO Every command, tool and action should be bindable to any key without restrictions.

(sorry about tone.... I have had very hard time Illustrator today)

Yes please!

Yes please. I'm constantly toggling this and navigating through preferences each time really slows things down.

When an object is selected, put a checkbox in the navigation / control bar to quick toggle "Scale Strokes and Effects".
I work professionally as a pre-press graphic designer and I constantly have to switch back and forth due to specifications from rip softwares. I normally just go through and select all the lines I need to be a constant weight after resizing them and change them manually. This is time consuming.

I totally agree with this...it's needed. I use it all the time and can't believe there's no shortcut or button to help speed up the process!!

Come on Adobe...sort it out!! Please... :-)

I agree with this request! This is similar to https://illustrator.uservoice.com/forums/333657-illustrator-desktop-feature-requests/suggestions/35694799-make-toggle-button-for-object-selection-by-path-o

I agree 100%, at the very least, it would be nice to have a shortcut key to toggle "Object Selection by Path Only" on and off.

and show an icon somewhere in the user interface, that is always visible and shows the state of this preference.

While working on complex illustrations I find myself frequently needing to switch the 'Select Object By Path Only' option off and on.

It would be hugely helpful if a 'SELECT OPTIONS' panel was available directly within the workspace.

Alternatively, a preference which offers 'Select Ignores Drop Shadows' would help: http://illustrator.uservoice.com/forums/333657/suggestions/49229966

There is a function in Illustraor that allows selection by whole or by path and it is called: Object selection by path only. It is in the prefs under selection tab. This SHOULD BE also in the top bar as VERY often I need to switch it when working on paths, especially in shadows work.

Mesh is great but would be better if you make a toggle button for "Object selection by path only" so users can toggle this feature on and off on the fly. With this option stashed in Preferences, it requires multiple steps that impair productivity.

I find myself diving into Preferences to toggle this setting on & off many, many times. I’d love to be able to toggle it with a keystroke.

Thank you.