How can I change the Playback Device and Capture Device on the fly without using the Options menus?

Alternatively, is there a way to make TeamSpeak3 use the default Windows Playback and Recording devices, and change on the fly if the default device changes?

I switch between headset and speakers by clicking "Set Default" in the Windows Audio control panel. But since TeamSpeak does not use the default I select in Windows Audio control panel, I must also select the device in the TeamSpeak3 options menus.

I switch often enough that this is cumbersome. I have hotkeyed the Windows Audio changes with AutoIt but was wondering if there was an easier way to toggle the device selections in the TS3 client?