I agree. I see no point in removing it. If the bearings good just keep driving it. but I personally did that for a few months and still wished I had it when it rained and I needs to de-fog the windows. If it is cost your looking at and the amount you use it well i would just get it done so you have it. If you don't use it worse case your seals get dry! But at least you did not have to make up a pulley to by-pass it. Plus if you plan to ever sell it you will be sitting on it if it has no compressor.Well, it's not a mod per se, since the a/c can be either disabled by pulling the wire going to the pump clutch, or by removing the pump at any time when the engine is in the car. I don't see you gaining anything worth talking about.
Seeing as how you live in the Seattle area, I would be reluctant to remove the pump if you don't have to, as there are a few times when you need a/c in the PNW in order to keep the inside of the car from fogging up. It can get dicey a few times depending on the weather. I'm speaking from many miles of experience with the 164's. Just came back from a drive in the heavy rain, and when we got stopped in traffic in the heavy rain, the car would start to steam up just a little, the normal outside air being too humid and warm to unfog the windows, even with every window and sunroof open.
That's fine but do replace a/c clutch pulley bearing while engine out of car as it spins all the time and a failure will not be fun to repairSeems clear that there isn't much value in removing the compressor. So I'll leave it on and let it spin. In 7 years of owning this car I have not used the A/C once. I certainly don't see any reason to start.
As to resale value. This is not an S or Q, by the time I'm done driving it, years from now, there will be no resale value