The two buttons needed to trigger spotlight are right next to each other, so you can bring it up by rolling your thumb from one to the other, which is at most 50% more inconvenient than just pressing the first button.
The command key does need to register first, though. How easy that is depends a bit on what style of keyboard you have.
With the old full-travel desktop keyboards, it's a bit awkward.
With the pre-"chiclet" laptop keyboards, where there is no significant gap between the keys and the edges are simply beveled, it's pretty easy and smooth.
I don't have a chiclet keyboard handy at the moment to test, but it probably isn't any more awkward than the full-travel keyboards.
