We have the same problem! - Have been waiting on this feature so we can switch to Magento…
Some of our products are from manufactures with specific rules of not allowing us to advertise prices lower than their MAP pricing. However, they do allow us to use the method of having the price replaced with “Add to cart to see our low price!”.
This feature is available as standard (or through modules) in many other carts.
This is the ONLY lacking feature that has kept us from actually using Magento.
We can only pray this feature is added soon as we would love to switch to Magento!