This was originally posted on my family blog on 3/29/06. I will be slowly moving the geeky stuff from there to this blog.
In my newest Ubuntu install, alt-b no longer moves the cursor back a word. It opens a menu. That's really obnoxious. Fortunately you can fix it:
Note: To use the Alt-F and Alt-B shortcuts in GNOME terminal, you need to disable its keyboardshortcuts. To disable them, select Edit -> Keyboard Shortcuts... from the menu and check both disable boxes.[source]
Ahh. Much better.