The ulem.sty file found in the standard LaTeX distribution can be easily
modified to produce blank (or anonymous) copies of papers for peer-review
submissions. The following was added to the file immediately after the
"xout" definition.
% To blank out text instead of underlining
%
\def\blankout{\bgroup \markoverwith{\rule{1ex}{1ex}}\ULon}
For example, to draw a think black line through the name of
the institution in the LaTeX file, one simply uses the \blankout
command -- e.g. \blankout{University of Notre Dame}.
Modified copy of the ulem.sty file with the \blankout command