If you opt to remove that, you will need to make sure your gas tank(s) get venting. Simply plugging the line to the tank will most likely create fuel flow problems. Plus plan on getting used to a gas smell as instead of being captured by the canister, the vent fumes will simply smell as they are released.
This thread has the no canister system:
http://67-72chevytrucks.com/vboard/s...d.php?t=786794