Keyboard shortcut to open/hide the Sidebar?

I like the sidebar in general, but it takes up too much screen real estate
for my taste to leave it always open.

Is there a keyboard shortcut to open or close the sidebar?

It's unwieldy to have to right click it and select close ... I would use the
gadgets much more if i could just hit control-s or something to open the
sidebar, and then again to close it when I'm done.

I would love to see it autohide like the taskbar, but from what I've been
reading in the discussions that's not likely at this point. Any ideas?

Here's half of your answer...

First go to Sidebar Properties and uncheck...
"Start Sidebar When Windows Starts"

Next...create a keyboard shortcut as described
in the following article:
(you'll find the program file at:
C:\Program Files\Windows Sidebar\sidebar.exe)

Create keyboard shortcuts to open programs
http://tinyurl.com/34b5je

This will open the sidebar...but the only way I
know to close it is...Right Click / Close.

More info on the sidebar:

Customize Windows Sidebar
http://tinyurl.com/2jowvs

More shortcuts...

Keyboard shortcuts
http://tinyurl.com/2jwz2f

Internet Explorer keyboard shortcuts
http://tinyurl.com/h5mro

Windows Mail keyboard shortcuts
http://tinyurl.com/2nol4e

Unless it's set to be always on top, then it shouldn't take
up any screen real estate.

Then, rather than hiding it when you don't want it, just use
the windows key+space bar to bring it to the front when you
need it.