A new version of the control flow graph has been added that allows much more interactivity. You can access this graph by right clicking on a function or method and selecting Graphical Views->Cluster Control Flow. The new graph lets you collapse and expand subsections of the graph by double clicking in the bounding box of that area. You can also hide parts of the graph that you are not interested in.
Here is the same function with the cluster control flow graph on the right, and the regular control flow on the left.
Note how parts of the graph are clustered together, double clicking in that area collapses it:
This extra interactivity gives you the ability to work with much larger graphs while still only focusing on the areas that are important to you