The first time i tried it, the game froze up on me... but then i did it on the bounty hunter quest(the one U get before U rescue scarlet robe) I got 2 keys every time i did the trick(the one in greatwood lake and the one in fisher creek)
It froze when i did the Hero Save thing, it did it twice on the first Disk i had and once on the second!!! But i did find the "Save the Archeologist" quest was good for silver keys and TONNES of experience (using the "Ages of..." potions.