virtualplastic.org tells you how to get rid of it.

Exactly. No need to run an app for it, just tweak your registry.

The latest edition of TweakUI let's you do it without needing to go near the registry.

Open TweakUI, click on 'Internet Explorer' to expand the tree. Then click on both/either 'Small Animation' and/or 'Large Animation' and then select 'Custom' and browse for your pre-made bitmap replacement. Make sure you make your bitmap according to the 'Description' provided in the TweakUI window.

Thanks guys.

Tweak UI is the way to go.

I really like the look of no flag and the new icons provided by YZ's toolbar made it worth it.