OK, so it's Nexus day. A day full of excitement and new things to be excited about. That doesn't take away from other awesome news, though - like new CyanogenMod features, for example. The team teased one such feature on Google+ last night: the ability to quickly hide the navigation and status bars on applicable devices.
This feature actually makes its way to CM10 from Paranoid Android, so hats off to that dev team for such a cool (and useful) tweak. I can personally see myself using this in a few instances: while playing games, it'll keep me from accidentally hitting the back or home buttons; also, when watching movies. Moar screen!
The option should already be available in the latest nightlies, so grab the one for your device and give it a whirl.