Rated 5 out of 5 stars
Eram746: Fanboy's list has recently been merged with Easylist and Easylist is what Fanboy now works on, so Fanboy's list is obsolete. At least that's what the blog says.
Meepmeep: use Adblock Plus (without filter lists) and its Element Hiding Helper to do that.
The combination of this add-on to block general ads with a filterless Adblock Plus (only your own custom rules) to remove anything that's left on the websites you most often go to is the most effective and resource-friendly way to go about it. Glad I found this one because ABP's filters with their many thousands of entries were becoming a serious strain on my resources and making everything slow. Now it's just this one with some custom rules for my own websites in ABP. Works fantastically.