In early, but working stage (with some limitations). Put this script in you project/Assets/Editor folder. Reserves keyboard shortcut Ctrl-H (win) or Cmd-H (Mac).
This is what it does:
Makes list in window of game objects that have Mesh Renderer and adds toggle for user to turn it on and off. Basicly it just enables/disables game objects Mesh Renderer.
I needed this as it is, so i actually don't need it anymore (at the moment). But if you have some ideas or spare time to make this better - GO RIGHT AHEAD! You don't even need my permission, just add here what you did, and update the Script file.
And the Script file: HierarchyFastHide.zip