I converted last winter after 3 seasons with the fairing and I couldn't be happier. Originally, I'd planned to keep the fairing in case I wanted to put it back on, but after riding all summer without it, I sold it. I knew I'd never go back.
If most of your riding is around town, I think you'd be happy with the conversion. Now, if you were one that does a lot of touring, I would say keep the fairing, simply for the wind protection. But as I do more commuting in town and sport-riding than touring, doing the conversion was a no-brainer.
And yes, the bike feels like a completely different bike. The first time you ride it after taking the fairing off is an other-worldly experience. It's like you're just gliding down the road and there's nothing beneath (or in front of) you. I also find that it makes riding the twisties much more enjoyable because you have better vision of the road (when hanging off the bike). I honestly feel like it's made me a better rider.
In the end, it's a personal choice. I think you'd love it, but only you will know for sure, and only if you take the plunge and do it. Of course, it's completely reversible if you don't like it, so really, there's no harm in trying. :thumbup: