I'd be willing to bet, that your making all this up off the top of your head...

You have it reversed, todays higher tolerance engines are affect much more by something as simple as removing a harmonic balancer, than say an oldschool 350. Do you guys understand what that pulley does? It serves a greater purpose than just something to attach a couple fanbelts too.
http://www.dsmtuners.com/forums/1513989-post386.html
http://www.dsmtuners.com/forums/cylinder-head-short-block/268533-broken-crankshaft.html
Torsional vibration: Every time a cylinder fires, the connecting rod hammers the crankshaft, making it twist as well as spin. After every twist, there's a rebound as the crank unwinds. This twist/rebound cycle is known as torsional vibration and if not controlled, it will result in rapid bearing and crank journal wear and can lead to a broken crankshaft. ( Source: Fluidampr's tech pages. )
Torsional vibration will destroy a crankshaft and/or bearings if left un-dampened.
Personally, I would rather not put my engine build at risk so I can save a few bucks on a blinged pulley.