I've thought about streamlining my 1996 GT Outpost this way for some time now, but I can't figure out what the advantages might be. In the end, I always convince myself to save my money, forget that the other two chain rings are there, and just use the rear seven gears.
Is the weight savings that substantial? Also, I like the idea of eliminating as many potential "failure points" as possible, but if I never touch the front gears, what can go wrong with them?