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Why don’t you just use cmd + H to hide it?

CMD H Will hide the app - and not close it, as his comment is asking.

There's CMD + Q, but having the red X work too would be nice :)

Haven't tried it in a while, but there's this: http://www.carsten-mielke.com/redquits.html

Cheers but as I said in OP, doesn't work anymore