How do I hide an icon?
You can't hide them except by putting them away in a folder - I keep one called "useless" just for stuff like the stock calculator, weather, stock apps - wish I could delete them without jail breaking.

A folder is easily created by tapping and holding an icon until they start to shake, then dragging one icon on top of another. The lower icon will take on a border and if the icon is released both are placed inside the newly created folder.

There is at least one icon that cannot be hidden in this way, the Newsstand icon. It can be repositioned but will not create (see above) or allow itself to be put inside a folder. It is the only icon I know of so far with this special behaviour.