1. Yeah, this option is pretty sucky.
2. The RibbonX option isn't so bad. All you have to do is set the the startFromScratch attribute to true:
HTML Code:
<customUI xmlns="http://schemas.microsoft.com/office/2006/01/customui">
<ribbon startFromScratch="true">
</ribbon>
</customUI>
You could just use notepad for this but the Office '07 custom UI editor you mentioned does make life easier.
3. A third option is to use an old Excel 4.0 macro
Code:
Application.ExecuteExcel4Macro "SHOW.TOOLBAR(""Ribbon"",false)"