As far as I know, the link that bermuDa posted covers all the legit ways of reducing or eliminating them.
I'm curious about the massage technique on that site, and may try it out in the future.
However, my plan for covering my stretchmarks involves ink, some needles, and a tattoo artist. Once I reach my current weight goals, I plan on having a very competent artist color some marks on my stomach and back flesh-tones (I've seen it used on large scars very effectively) while the ones on my sides are going to be covered by fairly large tribal pieces. It's a combination of hiding something that I truly dislike about my body while adding something that I find beautiful. It should also add interest for anyone that will get "the honor"
of seeing me shirtless (at least by the time I reach my goals it'll be an honor...now it's a blinding collision of pasty paleness and lethargicly-induced largeness).
Large tattoos aren't for everyone, but they fit my image, and have a more or less guaranteed success rate.