Long time lurker, first time poster.
I did a search on the forum but could not find any reference to removing the camera click/shutter sound. I know there is a work-around you can use by using the volume rocker. Some custom ROM's (Pete's for sure) have already removed the click sound.
If you are not using Pete's ROM and want to remove the camera click you can do so by renaming (or removing) the camera_click.ogg file.
You must be rooted and have SU access (not getting into that process here, plenty of info on that in this forum).
You can do this via an ADB shell or Terminal Emulator. Also remember to change /system to RW so you can write to it.
mount -o remount,rw /dev/block/mtdblock4 /system
mv /system/media/audio/ui/camer_click.ogg /system/media/audio/ui/camera_click.ogg.old
There is also a file in the same directory for the camcorder sound. Rename VideoRecord.ogg to VideoRecord.ogg.old to remove that too.