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You can remove the smog pump (or just the belt) and remove all the valves/hoses/lines and it won't hurt a thing. But if you have smog testing or an underhood visual inspection, that stuff all needs to stay.
EFE valvenis just there to force the exhaust from the pass side manifold through the heat riser passage in the intake manifold to help fuel atomize quicker. If you dont have inspections that require it, you wont hurt anything by removing it.