I am getting a lot of feedback!
Now the question is: Is it the fact that the sidebar and Post Meta Data text is not there that's annoying, or is it all of the fading in and out?
If it's the fading in & out, would it be better if there was no fading, just instant on/off?
If it is the fact that the text is actually gone, do we have ideas on how I can still show the text, while maintaining the minimalist look? Perhaps if I only show the meta data on the single post page and leave it off of the index page? The sidebar is a bit tougher - maybe a "more" link or something like jeremyclark suggested is the way to go for the sidebar.
I agree that the fading as we scroll is pretty weird, and would like to to be different. I've created an interesting problem here.