Lock bits take about 2 min or less to remove if the gun is already torn down. Now the hammer has to be removed, so if you haven't taken a wheel gun apart, please don't. The lock being gone effects nothing operationally. I don't figure that much more dirt will get in, there is already a gaping hole or two in the gun where the trigger and hammer thingies poke out. You will be left with a hole.
I pull all of mine out because I resent the concept and it is about two more pieces and a spring for murphy to break, posiibly incapacitating my gun. I may get bored and weld up the hole on my stainless, I suppose that unless I want a refinishing and heat treating project the hole in my 325 will stay.
I suppose that a Massadachist could say that removing the lock makes you look careless in court, but I figure if I'm there for shooting someone with the unlocked gun it is a pretty moot point since I'm sure I meant to do it. I keep the parts so that if I sell it I can put them back in so I won't get sued if it ends up with some daddy that thought it was okay for his kids to play with guns as long as "the lock was on".