Originally posted by John:

Yeah no one knows, for this i activate console commands, activate devcommands and debugmode, then i just press the Z button. This causes you to be unnoticed by enemies, are able to fly around and events don't happen. It's not really a pause button, but it's the best you can do without mods.

This and the "removedrops" (for obvious reasons i guess) console commands are the only ones i use rather often.

oh yeah i have console mode on to save the game because i started to get crashes often :/