Pouring over the release notes regarding jQuery 1.4, I came acrosss $.noop() which is:
Description: An empty function. (added in 1.4)
Real World Example (well almost):
jQuery.fn.myAwesomeAjax = function(url, complete) { return jQuery.ajax(url || this.url) .complete(complete || jQuery.noop); };
Use it instead of function (){}
function (){}