Any stock means of inserting a period by pressing the spacebar twice?

Question

I've grown to really appreciate the ability to press space twice on my iOS devices and have a period manually inserted without having to switch keyboards.

Though I realize the need isn't quite there on actual keyboards since the key is accessible at all times, I'm curious: Is there any way to get the same behavior using baked-in functionality on Mac OS X?

This is assuming the most recent version of Mountain Lion is installed.

Answer 1

Try this:

1. Go to System Preferences / Language & Text / Text
2. Add a new rule where " " (double space) is replaced with ". " (period space).
3. Make sure you've got Symbol and Text Substitution enabled, and this new rule checked, too.

It appears not to work everywhere, though.