As far as recall this requires relocating or deleting all of the images within your Gallery 'folder' at which point it will cease to exist. I believe there has been a plan in action for a long time to update the whole gallery process on the user end.
Actually, if you don't mind me adding to the thread. I would really like to know if we can expect this any time soon? I'd really, really like to be able to edit my images in large groups very soon because everything is getting a bit messy and needs alterations. Dr Casey has been patiently waiting for a long time now but Mr OCD is getting antsy.