Very interesting discussion. I was going to say just leave it in, as it's a PITA to get out, but also it's another thing that robs hp from the engine. Adds some back pressure, etc.
If you do anything, put in a 617.95X. I just happen to have one with IP and Oil filter canister (with IP to ease installation, no need to set pump timing) Did a compression test on it and all cylinders were above 20 bar cold. This engine started right up until I started pulling pieces off of it.
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Marty