A huge disadvantage of Launchpad is that every app located in your /Applications folder is shown. That means that you will see little helper programs like uninstallers or updaters, too. These apps can't be hidden from Launchpad easily because Apple does not provide any preference pane or tool to do so.
That's why I developed Launchpad-Control.
RequirementsOS X 10.7 or later
*Previously available here