Auto Highlight On: Alt should hide item names

I "need" Always Highlight turned on (shows names of items on the ground) otherwise I don't see all the loot. In fact, sometimes when the names are all lit up I still miss seeing some loot.

However, occasionally there is a surprise boss fight while item names cover my screen. When this happens, I would like to be able to hold down the Alt key to hide the item names. (When Always Highlight is off, Alt already shows the names.) Making Alt toggle the feature would also work for me.

Also, the names of items on the ground shouldn't overwrite the upper-right corner map—sometimes a real annoyance, albeit short-lived, when one's screen is full of items. (Btw, sometimes the upper-right map is obscured by other things, too.)

There is a toggle button for the 'always display item names'. On my computer it is z, can't remember if I changed it or that is the default though. But basically it's like this.

Items that pass the loot filter are always on. Hold alt to show all items, even the hidden ones. Press z to toggle all items off (even the loot filter ones won't show). Press z again to unhide them.