Right-click the taskbar>Properties>under Notification Area, click Customise>Find the Safely Remove Hardware icon on the list and set its behaviour to Always Hide.
Doesn't completely get rid of it (because you'd still need it if you connect an external hard-drive or something), but it does mean you just have to click the little arrow next to the system tray icons (near the clock) in order to see it.
It's quite useful being able to hide certain icons. I just permenantly hide the less useful stuff like my anti-virus etc, and permenantly display stuff like the network connection and CPU usage indicator.
Hope that helps.