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I think a forums search for keylogger might well answer that question as there are many cases of avast detecting a keylogger that was installed by the user. There is no guarantee that avast would detect every keylogger, the same is true of many anti-virus programs (this isn’t strictly a virus but spyware, so an anti-spyware program may give additional protection.

You might also consider proactive protection, in order to place files in the system folders and create registry entries you need permission. Prevention is much better and theoretically easier than cure.

Whilst browsing or collecting email, etc. if you get infected then the malware by default inherits the same permissions that you have for your user account. So if the user account has administrator rights, the malware has administrator rights and can reap havoc. With limited rights the malware can’t put files in the system folders, create registry entries, etc. This greatly reduces the potential harm that can be done by an undetected or first day virus, etc.

Check out the link to DropMyRights (in my signature below) - Browsing the Web and Reading E-mail Safely as an Administrator. This obviously applies to those NT based OSes that have administrator settings, winNT, win2k, winXP.