How do I hide the title on a specific node?
You can create a cck field(checkbox/boolean) for that will act as a flag. So you can have a dynamic option if you want to hide the node or not. 

Pseudo code:

In template.php

function yourtTheme_process_page(&amp;$variables) {
  if($variables['node']-&gt;field_hide_title['und'][0]['value']) {
    $variables['title'] = NULL;
  }
}


Haven't try this code but I think this will work.  

EDIT: Added screenshot of a new field


This should be the value of your cck