Disable Throttling on a List-by-List Basis

A Farm Administrator can disable Throttling on a list-by-list basis. To do this, run the following:

$web = Get-SPWeb http://webapp1
$list = $web.Lists["MyList"]
$list.EnableThrottling = $false
$list.Update()

To validate the Throttling settings are effective, run:

$list.IsThrottled

If it returns True, the the List has been throttled (has more items than the List View Throttle limit). If it returns false, it has either less than the List View Throttle limit or throttling has been disabled via the EnableThrottling property.

To re-enable throttling on a list, simply run

$list.EnableThrottling = $true
$list.Update()

Todd Klindt has a PowerShell script to create a list with 5,001 items.