I searched high and low for an option to disable the camera shutter noise, but as far as I can tell, there isn't one. After a bit of searching, I pieced together a solution. Please note that this is not a supported method of working on your phone and messing with the registry is a good way to brick your device. Play around with this at your own risk.
Thanks to the guys at www.everythingq.com for pointing me in the right direction.