Someone should do a few dynos, one with the belt on and one with it off. When the compressor clutch isn't in, the belts just freewheeling a pully, shouldn't be taking much HP at all. Maybe 1 or 2. The weight reduction of not having the hoses, condensor, and compressor alone would have more benefit I would think. You really ought to look at it like this. How long am I going to keep the car and am I concerned about it's future resell value? If you're not going to keep it more than a few years or are concerned about resell, then I'd leave it alone or just take the belt off at most. You have to figure what a running A/C system ads to the value of the car and see what it's going to cost you, having removed it to gain minimal HP increases. Unless a person does a lot of drag racing, I wouldn't remove a single thing from the car, maybe take the belt off at the track if you go ever so often and you feel it gives you an edge. You'd probably be better off putting in one of those nifty electric water pumps. They're not cheap, but selling a car with no A/C is like selling a lemon, at least in my neck of the woods.