The new version of Gmail makes it easier to create filters for mailing list. If you select "filter messages like this" when you read a message from a mailing list, Gmail will filter the right messages using the listid: operator, that corresponds to the List-ID header. For example,
listid:googlepress.googlegroups.com is the best way to find messages sent from the Google Press group. You should create filters that automatically label these messages, archive them or mark them as read.
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Gmail also has a clever way to handle mail sent to a list you are subscribed to: it bypasses the inbox, but it's still available in Sent Mail or in other views. When you set a vacation responder, it won't be sent to mailing lists. If you don't want to read the next replies from a thread, you can ignore them by clicking on "Mute" in the "More actions" menu: all the replies will be archived.