I would like to be able to simply turn off the group feature altogether and reduce the screen clutter! This would make it easier to see the important stuff on the watch list.

You can do it.

Web-interface: go to Profile and uncheck "Group" in "My Columns" section.

Windows application: click View - Columns and uncheck "Groups" to remove Groups column. Then click View and uncheck "Groups" to remove Groups list on the left side.