Neat thread. I'll try this later too.
Couple of things:
(1) I'm going to move this to the PPC Software section. No need to horde it in the Apache section 
(If that is a problem please give me a better place to move it to!)
(2) I hide my upper clock by using Vicott's UI Tweaker. I then change the top/bottom bar to Black (or something else). Then, using Tweaks2k2 (or the corresponding registry hack, to save you money) I turn the Start Menu Font to match the same color as the Bar.
This hides (a) the clock but also (b) the Program name. I don't mind the latter as I can usually tell what program I'm in without reading it's title :P