I disabled ClearCase integration into Visual Studio altogether (Start IBM Install Manager, change ClearCase installation and uncheck the VS integration). Whenever you save a changed file you then get asked if it's okay to overwrite it (hijacking the file), which is a lot faster than checking out every file as soon as you edit it.
Of course you need to periodically check out those hijacked files, but they will be listed whenever you perform an update (or "Find modified files") on your View and can then be all checked out at once. If you see you undid your changes again, you can undo the hijacking as well, and will never have created a version on your private branch, which is a big plus in my opinion ;)
The ClearCase Menu in VS will disappear though, so if you want to open the version tree of a file for example, you need to open it in explorer first. If you don't like this, you can enable the integration again, so it can't hurt to try this way of working.
Oh, there is another possibility: You can use the ClearCase Menu to hijack the file before you edit it (Alt+c, j), this way you retain the benefits of integration without having to check out. Drawback is, that you need to keep in mind which files are checked out before editing ;)