(See the best response by FKI.)

Problem description:
Hopefully I'll have this figured out by the time I get a reply, but basically I'm looking for a concise way to remove an element from a list while preserving the location of all other elements of the list. As it stands now, if I remove an element from the list I'm working with, all other items move down 1 place
Best response
What if you did something similar to this:

var/somelist[] = list("item1", "item2", "item3")
// removes list item #2 without causing the list to shift
somelist[somelist.Find("item2")] = null

May not be the most ideal method though.
Yep, Find() is what you want. You need to get the index of the item in the list, and then set the value at that index to null.
In response to Lummox JR
so for instance...

sampleList = list("1stGuy","2ndGuy","3rdGuy","4thGuy")

sampleList[2] = null

2ndGuy would be deleted and the positions of the other items in the list would be retained? Or do I HAVE to point to it with Find()?
In response to SolarOblivion
All Find() does is return an index, so that would work too.
If you know the index already, then you don't need Find(). If you don't know the index, that's when Find() is your friend.