I absolutely fell in love with gmail once I started using it. I currently use it for my primary mail and am very happy with it. However, when I would talk to my friends about gmail their major grudge seemed to be the lack of "folders". I naturally would tell them about gmail's labels and how it is a more general concept than folders. The basic argument they would give me would be how using folders to sort mail (using filters) leaves the inbox uncluttered and allows one to prioritize mail handling. I saw a point in their argument. Essentially they wanted a way to hide all the mails on a label from the main inbox view… though they would prefer to keep the uncategorized mail in inbox.
One day I subscribed for a really high volume mailing list and searched frantically for a way to hide the mails under a label. Not being able to do that I unsubscribed but continued my search for a way. Then on visiting the page mentioned in the note above I saw a very easy of achieving the same. The basic idea is that gmail's inbox itself is some kind of a label. You should be able to see this when you go to 'All Mail'. By default, gmail marks all incoming mail with the inbox label. Assuming that you have a filter to automatically label the mails, you edit the filter of the given label and enable "Skip the Inbox (Archive it)" [on the second pane for editing labels]. The mails filtered by this filter will still be visible in 'All Mail' but won't show in the inbox. However, you will see the unread count in the label corresponding to it in exactly the manner folders work.
Hope this helps. Criticism, suggestions are welcome.
This tip is largely because of the following web page. However, the author doesn't really stress on the part of hiding the mails from the inbox display using this technique. I had searched quite a lot for this on google and had found no answer. So I thought I would write it down.