The ABS on these cars is primitive and many people have had spuratic failures (the pedal will go to the floor and nothing happens /ubbthreads/images/graemlins/ooo.gif) Thats why a lot of ppl remove it. That and the pump is 25ish lbs hanging way out in the front and it has a ton of wiring cluttering up the harness. All in all its a 30 something pound weight savings that increases safety and really cleans up the engine bay.
As for keeping it, many peoples work fine and have nothing bad to say about them. Also, it requires either rebending or replacing your master cylinder to proportioning valve and prop valve to both front brake lines, plus a non ABS proportioning valve.
For the 4WS, it turns the rear tires in the same direction as the front over I believe 25mph which can lead to horrible understeer during hard driving. By deleting it, it gives more neutral handling. That and a lot of people have the rear lines go out, and its easier and cheaper to lock out than to replace the lines.
On the other hand, if your planning on doing a lot of cruising on the highway and not so much back road driving, it won't negetively effect your handling and might actually make lane changes smoother in theory. Also, the 4WS was one of the things that makes this car so unique. If your planning on keeping it mostly stock to maintain its value and then it way negetively effect you.