KnockoutDock is a simple Applescript & shell script combo, designed to make the Dock as un-obtrusive as possible without losing the features of Expose, Dashboard, Application switching or ScreenSaver Hot Corners.

After running this script, the dock will be virtually gone. It only reappears if you hover the mouse over the top-right corner directly under the menubar. (See screenshot).

Settings can be restored.
Does not destroy Expose, Dashboard etc. like other applications.
Disables bouncing Dock Icons.