Quoting ShadowMastiff2468,
But it aint fun if the enemy SEES you move in...I want INVISIBLE!
he he he!
Will not work... have try it with the following ship :

I was able to make the ship almost invisible... but the team color remain ( red dots at the front ), the self illumination remain and the truster particule effect remain...

A other method is to made the mesh so small that at maximum zoon, it is not yet the size of a pixel... so, on screen, you will see nothing of the ship... remain a problem !!! The player icon remain visible!!!
If someone is able to reach a full invisibilty, i am really curious to know how they have made it !!!