Hi Cameron,
I have the same need. I think it would be great to have the option to archive though, even if your workaround is OK. I think the ability to archive would be better because I want to keep the queue under its original category so that I can find it easier in the future, rather than change its category.
For example, I have a category called "Entrepreneurship projects", and I want to simply click "archive queue" and hide it with the option to later search for archived queues in this category. Also, the ability to archive a queue would be great because then you can time-stamp the archive date and later search for archived queues sorted by the time they were archived (this would represent when projects are "completed").