I, personally would really like it if, when you put someone on your "ignore" list, then really and truly disappeared from the site for you. As it stands now, you can see that they're "around", can see that they've posted or sent you a message, you just can't read it, and you have this little bit of text that says "so-and-so is on your ignore list".

I'd love it if they just plain completely disappeared until you took them off the list.