In our organization, we have several parcel types to maintain. We also need to be able to easily select both active and historic parcels (for queries, for LSA analysis, etc.). For this reason, we have spent a considerable amount of time customizing the OOTB symbology for the parcel fabric. Instead of separating the historic parcels into separate group layers (and then having several additional items to enable and disable visibility on), we have opted to have only one layer for each parcel type in our TOC, and we distinguish the historic parcels through labeling (strikethroughs are historic):

This structure has allowed us to significantly streamline our TOC, plus it makes it much easier is to enable visibility of our parcel features (no more going into several group layers to find what we need).
When we do want to view only current parcels, we have a definition query in the layer properties and we can go and enable that, but we have to do so on each feature within the parcel fabric. What would make things so much easier for us is if there was a 'Show Only Current' button (similar to the Show Only Active button). When enabled, the Show Only Current button would apply a definition query so that only parcels, lines and points where RetiredByRecord is NULL are visible. When the 'Show Only Current' button is disabled, the definition query would clear and all parcel features would be visible.
A 'Show Only Current' button would be extremely useful for any organization that veers from the OOTB symbology of separating historic features into different group layers in the TOC.