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I think some of you guys are thinking too hard on this haha. I removed mine since it was leaking like a sieve anyway and my oil filter wouldn't clear with my headers.
Step 1: Drain coolant
Step 2: Remove complete oil cooler (more like a heater) setup.
Step 3: Remove adapter that is bolted to the block.
Step 4: Grind down the nubs on the 2 bolts you just removed.
Step 5: Replace the adapter back on the block with the bolts you ground down. (Make sure it's in the same orientation as when you took it off)
Step 6: Either block off the ports where the lines went to (Waterpump and Radiator) or do what I did and go to GM and buy the factory by-pass hose and connect the water pump to the radiator.
Step 7: Enjoy the minimal weight savings and less clutter under the car. You can also run the taller oil filter but be careful, I didn't realize after I did my headers and changed the oil for the first time that I didn't have enough room to remove the filter.....lol. So I went back to the short style. Will most likely depend on what headers you have.
That's it...