Hiding XML Comments in Visual Studio

I usually collapse everything. In VS 2005 go to [Edit -> Outlining -> Collapse to Definitions] to collapse everything to its base definition including the comments (you can also get there from the context menu). This has the same effect as using the little plus/minus sign in the left hand margin of the editor to collapse everything. Then you can expand just what methods you need, or if you're stepping through things in the debugger line by line it will auto-expand methods that you step into. There are some other options in the same menu item to so some other collapse/expand functions.

You could write a command-line utility that would remove all lines from files that start with whitespace and a triple slash ("///")... at least if you're working with C#. If your code is under version control, that shouldn't be a problem. Then you'd just have to drag a folder onto the tool and it would do it's magic... shouldn't take but an hour or two to write... less if you are already familiar with regular expressions.