The amount of work to save a little weight in the front, and that pulley when the A/C off does make any extra load on the engine. I would look sweet, but sounds like a huge job. Let us know what you're planning.
Just pull the compressor, bracket, condensor and all that and run a shorter belt. You only thing you may have to do is get some pulleys to set it up so that the belt runs right as far as grooved and ungrooved pulleys.