personally I wouldn't bother, I felt no gain when I decatted mine, in fact more likely a loss of mid range torque.
and of course its illegal now.
removing it will not give additional ground clearance as they do not sit below the level of the sills in my experience, also running that low will render the beautiful handling of the standard chassis useless and wont be able to use the lovely VTS engine.
might as well shop it for a 1.4.