I posted about this on Stack Overflow before finding this question and then tried everything the other answers here suggested. I started running into some issues right away though.
When running VS2012 with elevated permissions I was no longer able to drag & drop files into it from Explorer which I assume is because Explorer isn't running with elevated permissions.
Then after I used VSCommands to always run Visual Studio with elevated permissions I was no longer able to open files associated with Visual Studio, aside from solution files, by double clicking them in Explorer. Visual Studio would open but then I'd get an error saying
There was a problem sending the command to the program. and they wouldn't open.
This left me having to use the open file dialog if I wanted to open any non solution/project file.
Despite there being no UI to turn off UAC like in the past, that I saw at least, you can still do so through the registry. The key to edit is:
EnableLUA - DWORD 1-Enabled, 0-Disabled
After changing this Windows will prompt you to restart. Once restarted you'll be back to everything running with admin permissions if you're an admin. The issues I reported above are now gone as well.