The remote wipe part is extremely scary. How do you disable this on your mac?
BUT: you'd be hosed if you ever needed recovery, you wouldn't be able to use full-disk encryption, and there's likely other bits of the OS that would break in subtle and interesting ways without it there. Tread _very_ carefully.
Isn't this not an option in relatively recent Macs, which have the recovery functionality baked into the EFI firmware and not as a partition on the disk?
Newer Macs have that functionality out of the box, and a bunch from 2010 and early 2011 that did not originally ship with the recovery firmware ended up getting it later via update: http://support.apple.com/kb/HT4904
apaulin:~/ $ diskutil list [13:38:41]
/dev/disk0
#: TYPE NAME SIZE IDENTIFIER
0: GUID_partition_scheme *121.3 GB disk0
1: EFI 209.7 MB disk0s1
2: Apple_HFS Macintosh HD 120.5 GB disk0s2
3: Apple_Boot Recovery HD 650.0 MB disk0s3