I wonder what effects the .XMP files have on Photoshop applications. Should I keep them when working in the OS (WIN7) or chuck them? What effects would deleting XMP have?
THe XMP files contain all the edit information for any raw files you have. If you chuck them you will loose any edits you made.
If you do not want to see them in Bridge click View and uncheck show hidden files. They only use about 2 kb.