diff --git a/wp-admin/includes/screen.php b/wp-admin/includes/screen.php
index 37ecc0915..9cff3612f 100644
--- a/wp-admin/includes/screen.php
+++ b/wp-admin/includes/screen.php
@@ -799,7 +799,15 @@ final class WP_Screen {
 		if ( isset( $wp_meta_boxes[ $this->id ] ) ) : ?>
 			<h5><?php _ex('Show on screen', 'Metaboxes') ?></h5>
 			<div class="metabox-prefs">
-				<?php meta_box_prefs( $this ); ?>
+				<?php
+					meta_box_prefs( $this );
+
+					if ( 'dashboard' === $this->id && current_user_can( 'edit_theme_options' ) ) {
+						echo '<label for="wp_welcome_panel-hide">';
+						echo '<input type="checkbox" id="wp_welcome_panel-hide"' . checked( (bool) get_user_option( 'show_welcome_panel' ), true, false )  . ' />';
+						echo __( 'Welcome' ) . "</label>\n";
+					}
+				?>
 				<br class="clear" />
 			</div>
 			<?php endif;
diff --git a/wp-admin/index.php b/wp-admin/index.php
index a7964e853..c00604d6f 100644
--- a/wp-admin/index.php
+++ b/wp-admin/index.php
@@ -30,9 +30,6 @@ else
 
 $overview = '<p>' . __( 'Welcome to your WordPress Dashboard! This is the screen you will see when you log in to your site, and gives you access to all the site management features of WordPress. You can get help for any screen by clicking the Help tab in the top bar.' ) . '</p>';
 
-if ( current_user_can( 'edit_theme_options' ) )
-	$overview .= '<a href="#" class="welcome-panel-open">' . __('Show the welcome panel.') . '</a>';
-
 add_screen_option( 'overview', $overview );
 
 // Help tabs
diff --git a/wp-admin/js/dashboard.dev.js b/wp-admin/js/dashboard.dev.js
index 7803ca485..64815f82d 100644
--- a/wp-admin/js/dashboard.dev.js
+++ b/wp-admin/js/dashboard.dev.js
@@ -14,11 +14,12 @@ jQuery(document).ready( function($) {
 	$('.welcome-panel-close', welcomePanel).click( function() {
 		welcomePanel.addClass('hidden');
 		updateWelcomePanel( 0 );
+		$('#wp_welcome_panel-hide').prop('checked', false);
 	});
 
-	$('.welcome-panel-open', '#adv-settings').click( function() {
-		welcomePanel.removeClass('hidden');
-		updateWelcomePanel( 1 );
+	$('#wp_welcome_panel-hide').click( function() {
+		welcomePanel.toggleClass('hidden', ! this.checked );
+		updateWelcomePanel( this.checked ? 1 : 0 );
 	});
 
 	// These widgets are sometimes populated via ajax
diff --git a/wp-admin/js/dashboard.js b/wp-admin/js/dashboard.js
index 5ef4e337f..7fe7704cd 100644
--- a/wp-admin/js/dashboard.js
+++ b/wp-admin/js/dashboard.js
@@ -1 +1 @@
-var ajaxWidgets,ajaxPopulateWidgets,quickPressLoad;jQuery(document).ready(function(b){var c=b("#welcome-panel"),a=function(d){b.post(ajaxurl,{action:"update-welcome-panel",visible:d,welcomepanelnonce:b("#welcomepanelnonce").val()})};b(".welcome-panel-close",c).click(function(){c.addClass("hidden");a(0)});b(".welcome-panel-open","#adv-settings").click(function(){c.removeClass("hidden");a(1)});ajaxWidgets=["dashboard_incoming_links","dashboard_primary","dashboard_secondary","dashboard_plugins"];ajaxPopulateWidgets=function(e){function d(f,j){var h,g=b("#"+j+" div.inside:visible").find(".widget-loading");if(g.length){h=g.parent();setTimeout(function(){h.load(ajaxurl.replace("/admin-ajax.php","")+"/index-extra.php?jax="+j,"",function(){h.hide().slideDown("normal",function(){b(this).css("display","")})})},f*500)}}if(e){e=e.toString();if(b.inArray(e,ajaxWidgets)!=-1){d(0,e)}}else{b.each(ajaxWidgets,d)}};ajaxPopulateWidgets();postboxes.add_postbox_toggles(pagenow,{pbshow:ajaxPopulateWidgets});quickPressLoad=function(){var d=b("#quickpost-action"),e;e=b("#quick-press").submit(function(){b("#dashboard_quick_press #publishing-action img.waiting").css("visibility","visible");b('#quick-press .submit input[type="submit"], #quick-press .submit input[type="reset"]').prop("disabled",true);if("post"==d.val()){d.val("post-quickpress-publish")}b("#dashboard_quick_press div.inside").load(e.attr("action"),e.serializeArray(),function(){b("#dashboard_quick_press #publishing-action img.waiting").css("visibility","hidden");b('#quick-press .submit input[type="submit"], #quick-press .submit input[type="reset"]').prop("disabled",false);b("#dashboard_quick_press ul").next("p").remove();b("#dashboard_quick_press ul").find("li").each(function(){b("#dashboard_recent_drafts ul").prepend(this)}).end().remove();quickPressLoad()});return false});b("#publish").click(function(){d.val("post-quickpress-publish")})};quickPressLoad()});
\ No newline at end of file
+var ajaxWidgets,ajaxPopulateWidgets,quickPressLoad;jQuery(document).ready(function(b){var c=b("#welcome-panel"),a=function(d){b.post(ajaxurl,{action:"update-welcome-panel",visible:d,welcomepanelnonce:b("#welcomepanelnonce").val()})};b(".welcome-panel-close",c).click(function(){c.addClass("hidden");a(0);b("#wp_welcome_panel-hide").prop("checked",false)});b("#wp_welcome_panel-hide").click(function(){c.toggleClass("hidden",!this.checked);a(this.checked?1:0)});ajaxWidgets=["dashboard_incoming_links","dashboard_primary","dashboard_secondary","dashboard_plugins"];ajaxPopulateWidgets=function(e){function d(f,j){var h,g=b("#"+j+" div.inside:visible").find(".widget-loading");if(g.length){h=g.parent();setTimeout(function(){h.load(ajaxurl.replace("/admin-ajax.php","")+"/index-extra.php?jax="+j,"",function(){h.hide().slideDown("normal",function(){b(this).css("display","")})})},f*500)}}if(e){e=e.toString();if(b.inArray(e,ajaxWidgets)!=-1){d(0,e)}}else{b.each(ajaxWidgets,d)}};ajaxPopulateWidgets();postboxes.add_postbox_toggles(pagenow,{pbshow:ajaxPopulateWidgets});quickPressLoad=function(){var d=b("#quickpost-action"),e;e=b("#quick-press").submit(function(){b("#dashboard_quick_press #publishing-action img.waiting").css("visibility","visible");b('#quick-press .submit input[type="submit"], #quick-press .submit input[type="reset"]').prop("disabled",true);if("post"==d.val()){d.val("post-quickpress-publish")}b("#dashboard_quick_press div.inside").load(e.attr("action"),e.serializeArray(),function(){b("#dashboard_quick_press #publishing-action img.waiting").css("visibility","hidden");b('#quick-press .submit input[type="submit"], #quick-press .submit input[type="reset"]').prop("disabled",false);b("#dashboard_quick_press ul").next("p").remove();b("#dashboard_quick_press ul").find("li").each(function(){b("#dashboard_recent_drafts ul").prepend(this)}).end().remove();quickPressLoad()});return false});b("#publish").click(function(){d.val("post-quickpress-publish")})};quickPressLoad()});
\ No newline at end of file
diff --git a/wp-includes/script-loader.php b/wp-includes/script-loader.php
index 1b91f1e53..1dcf5ec6d 100644
--- a/wp-includes/script-loader.php
+++ b/wp-includes/script-loader.php
@@ -365,7 +365,7 @@ function wp_default_scripts( &$scripts ) {
 
 		$scripts->add( 'farbtastic', '/wp-admin/js/farbtastic.js', array('jquery'), '1.2' );
 
-		$scripts->add( 'dashboard', "/wp-admin/js/dashboard$suffix.js", array( 'jquery', 'admin-comments', 'postbox' ), '20111019', 1 );
+		$scripts->add( 'dashboard', "/wp-admin/js/dashboard$suffix.js", array( 'jquery', 'admin-comments', 'postbox' ), '20111019b', 1 );
 
 		$scripts->add( 'hoverIntent', "/wp-includes/js/hoverIntent$suffix.js", array('jquery'), '20090102', 1 );