Sorry, I didn't make my intentions totally clear here: What I really wanted was a way to comment out a large block of code that I wanted to cut out for some reason - a lot of the time, I would find myself using an emacs macro to do it, but typing something like C-x ( C-n C-a # C-x ) C-u 50 C-e just to comment out a block of code is not too fun. Then I want to put it back in and have to go throught the whole thing again.

I agree that the "lots o #'s" form is good for regular comments (read: information about the program), but slapping a few "=cut"s around code has been useful several times, just in the past day.