When the EGR on my 87 stopped working I just plugged the hose. They usually fail either from a vacuum leak or hanging open intermittently. But as long as it stays shut it's as if it isn't there.
Depending on where you are located, and how things are inspected, this can be a better solution, since it looks correct, and you don't run the danger fines or flunked inspections for removing it.
By the way, note that if your 87 has the original one piece EGR valve (not the later type with a separate vacuum modulator), it WILL fail a vacuum test, because it has a valve in the diaphragm that only closes with exhaust back pressure. Of course it might be bad anyway, but don't let somebody tell you yours is bad just because it leaks vacuum.
I never noticed any difference with it disabled on mine, but then again, I'm not sure whether it ever worked. I would suggest, however, that if it's working you keep it until it quits. It does reduce emissions a little bit, and it does so by cooling exhaust gas temperatures, which in turn reduces knock. The Renix system has a knock sensor that works so well you'll probably neve rhear a difference, but it reduces knock by retarding ignition. If you can prevent that from happening, it may be better for performance.
