i removed all the unnecessary bits from my SS MTB also. it originally used cantilever brakes, and i put on vee's, so i got to remove the unused cable hanger off the rear triangle. also took off the shifter cable-stops from the down tube and chainstay, the luggage mounts on the dropouts and the mounts towards the top of the seat stays, and the derailleur hanger. luckily the frame is white so i just sprayed over the bare spots with some white primer, you can barely tell i removed anything. to remove everything i used a dremel, hacksaw, a coarse hand file and a fine hand file. maybe ill post some pics of the super clean rear triangle.

after it was all removed i could go much much much faster bc i saved so many grams by cutting off the extraneous parts. to save more weight next im going to drill lots of holes on the top tube, down tube, seat tube, and cranks.