The easy way to "hide" it.
Use a custom launcher program (no they don't require root, seriously, most things don't) such as launcher pro. There are many of them that allow you to hide applications in the app launcher.
Best of all, most of them can be set up to where you pretty much only even need to access the app launcher on a rare basis, anyway.
If you root the phone (spend 3 seconds looking at the other threads for this phone, it's been posted for weeks) you can then use programs such as titanium backup pro to uninstall system applications, or what is a safer option for many of them, is to freeze them. A frozen app won't be displayed in even the stock app launcher, won't ever be ran, and won't ever check for updates. It's only impact is yeah, the memory is taken up by the phone.
But don't think that your phone will "run better" because it has less "bloatware" installed. That's a real misnomer, seriously. Android ram utilization is not like your windows PC is.
For me, the main reason why I like to remove or freeze the "bloatware" is it makes it easier pertaining to market updates of apps. I don't ever want to run those apps, I mean, I PREFER google maps navigation, so why would I ever want to update tmobilenav.