I'm going to redo my brakes also, but not sure removing the proportioning valve entirely is such good idea. Possibly replace it with a new adjustable one?
Usually the proportioning valve is put in to stop the rear tires from locking up before the fronts lock. Imagine you're hauling buns in a sweeping corner at 60 mph or higher, you hit the brakes hard, if the rear circuit gets too much pressure because you removed the proportioning valve the system lockups up the rear tires before the fronts, losing traction, sending the car into a spin. At least that's what the proportioning valve was supposed to do I thought. I had one of the McLaren Can Am cars and remember spending a lot of effort making sure the front and rear brake bias locked the fronts first, leaving the rears still turning.
Maybe if you are running 335's in the rear and 225's in front you have so much rubber on the ground in the rear that the brakes won't lock the rears before the fronts...but normally that what most manufactures do. I had a Fiat Spider in college that had a variable proportioning valve that was actuated by lift in the rear of the car...as you hit the brakes and the front of the car would squat(planting the front tires giving more traction) and the rear would start to rise(giving less traction), the proportioning valve would gradually lessen the rear pressure to stop the locking of the rear tires.
I have heard from Steve Wilkinson that he sells a 1" master that gives the brake system a much better feel with stock calipers.