I think you will fail any inspection tests if you remove the feedback carb. Unless you know someone that does the inspections and will cut you some slack. I don't know, but are there any upgrades to TPI that are legal? Maybe that would be the way to go.
I had the same car and swapped in a 375HP 355. In the process I removed the Q-jet carb, distributor, stock exhaust (cad converters too), the rest of the smog equipment, and the little check engine light bulb to shut the computer up. definately not a smog legal scenario but it was a lot more fun to drive!
There might be some mail order places that will modify your feedback carb to make the fuel curve a little better for performance, but I don't remember for sure.
68 Camaro, 383 small block with TH350 trans. 11.98's at 111mph and never trailered.