@boom02 said:

Do you guys think this is the right way?

NO. The spacebar is pre-coded to activate the native SelectionTool. Many users are used to it this way, and do not want to change it. Those that have changed it, have done so for their own choice of command.

Secondly, you cannot affect how the built-in place_component works as it is a native tool, most especially not when using the repeat mode. (Ie, there really is no way to trap the spacebar and prevent it from bubbling-up to SketchUp's shortcut handler.)

The way it is designed, when not in repeat mode, is that once placed, the normal MoveTool is active, and it's hover rotate mode can be used. Just hover the MoveTool cursor over a the side of a component's bounding box, and 4 rotate handles will appear. Move to one of the handles and you'll see the cursor change to a protractor.

I myself, also kinda miss the ACAD spin before place feature.

@boom02 said:

... how can I get the key press from the user?

The best way is inside a custom tool class written in Ruby.
http://ruby.sketchup.com/Sketchup/Tool.html

And you'd need to create a menu item pointing at a method object that rotates the selected object. Then that menu command can be assigned any shortcut, by users according to their own desires.