Alt-l (lowercase L) works out of the box and doesn't move the cursor. I also map a press and release of capslock to escape for when I need that (it's control the rest of the time).
I just tried this and Alt-l seems to move to the line above (equiv. to Esc+l), Alt-J the line below, and in gvim it produces some accented characters for me. It would have been a good combination for finger movement though.
