scook
Yes, I have quite a few things hidden and it does reduce refresh wait times. Should you ever log off the Command Center be prepared to recreate the hidden list. I believe logging off looses the list.
CCC saves all these things in its cache folder (...\Cache\products).
If you open one and look it over (I use Ultraedit which supports XML files) you will see the stuff saved for each product - like your serial numbers, etc.
One xml attribute called 'IsHidden' controls the visibility.
You could probably create an archive of all the files in that folder and restore them if you really screw something up and don't want to re-create everything again. I have not tried this, but it seems fairly straightforward.