1. Select at most one bag, preferably a small seat bag. A backpack will at least make your bike seem less fredly after you walk away. A single pannier won't do because it's asymmetric. Two panniers makes you look like you're touring. A truly successful non-fred might get a domestique to carry stuff for him.
2. Choose at most one front and one rear light. The lights should be as inconspicuous as possible. Very few lights are stylish, and so it's best if they go completely unnoticed. If you absolutely must use a light, the best way to avoid freddom is a small handlebar mounted unit. Consider disguising it as a Garmin GPS unit.
3. Ditch the kickstand. It's extra weight and adds nothing to the good looks of your bike. When posing the bike for photographs, it should be entirely unclear what is keeping the bike from falling over. If you must prop the bike up, for instance while discussing its weight at a rest stop on a charity ride, you should do so by positioning the pedal on a curb such that the chain tension holds the weight of your bike. (Note: this is unacceptable for photographs because it leads to poor pedal orientation.)
4. Lose the airzound. Water bottles are for carrying sports drinks and promoting your favorite bike shop, not for making sound. A non-fred bike should make absolutely no sound of any kind. What's the point of paying your mechanic to spend endless hours chasing every last creak and rattle if the thing is going to make a loud, obnoxious wail at the touch of a button?
5. Slam the stem. As comfortable as it may be to have handlebars at or above saddle level, it is a major fashion error. The stem (preferably a Thomson) should be non-adjustable, level with the ground, between 90 and 120mm long and should be touching the top of your Chris King headset. Be sure the stem is properly color coordinated with your handlebars and frame.
6. Get rid of the chainguard. This is a tricky one. The chainguard, like the kickstand, is a piece of dead weight that adds nothing to the attractiveness of your bike. On the other hand, all your de-fredding efforts can be spoiled by a single unsightly grease spot on your sock or cleanly shaven calf. Short black socks can help with this if you have the ability to pull off that look. Otherwise, avoid riding the bike in any conditions which might compromise the sleek shine of your chain.
7. Toss the mirror. Looking at others is a fred trait. They should be looking at you. Maybe your bike needs a bit more carbon fiber or some white handlebar tape to grab people's attention more effectively. Be sure to add a healthy portion of the bling to the front of your bike so you can enjoy it without benefit of a mirror.
8. Go clipless. Truly stylish bikes are sold without pedals. This obviously isn't done to keep costs down. It's done to spare the bike the indiginity of ever having had platform pedals attached to its pristine (yet stiff) crankarms. The first thing you should do upon acquiring a bike is figure out what color your shoes and clipless pedals should be and then get them on there.
9. Never allow your bike to be photographed from the non-drive side. It's a little known fact that he biblical story of Ham "uncovering the nakedness of his father Noah" was just a polite way of saying he photographed Noah's bike from the non-drive side. You should never expose your bike to such humiliation. You may think this doesn't matter while you're actually riding, but you never know when you'll be riding along and some stranger on the street will lean over to the person next to him and whisper about having seen the non-drive side of that bike on the Internet. You don't want to have to live with that kind of doubt.
10. Turn off those tire lights. If your tires are large enough to have a reflective strip, they're probably too wide. Besides adding gratuitous grams of rotating mass to your bike, the reflective strip contributes to increased rolling resistence. Not only that, it only looks cool to freds.
WARNING: De-Fredding your bike can significantly reduce the safety and utility of your bike. De-Fredding should be performed for vanity purposes only and should not be considered a useful transportation-related option.
NOTE: It's possible I've been spending too much time lurking on the roadie forum.