Five-second rule and sideline hash mark

[theboys]

Grant Wahl is a writer for SI.COM. He has a column titled "Mailbag". In it this week he responds to the following question (men's college basketball):

With the shot clock now in use, why does the five-second rule still exist? It should only be a violation if the player is just standing still, not if he's dribbling.

With the following response:

I have no qualms with any rule that rewards good defense and promotes action in the game. (Though if we did follow your suggestion we would be able to eliminate one more marking -- the hash mark -- from the court.)

My question is, as I again show my howler monkey ignorance, is the sideline hash mark still used?