If the previous owner changed anything with the fuel/air mixture, you want to address that before messing with the exhaust. If the bike is injected, and it still has the Power Commander / EFI unit attached, work with someone to restore the stock map. By gutting the can, you may have made the bike run a little better, but you're not really addressing the root cause of the poor throttle response. Other things may be causing it.
Removing the exhaust entirely will do three things:
1) It will immediately annoy anyone within 1/4 mile of your bike. No kidding. It's that freakin loud. If you ride to work, your neighbors will hate when you start the bike up in the morning. They may even complain to your landlord.
2) Over time, you will damage the valves if the bike is running too lean.
3) Over time, you'll begin to hear ringing in your right ear, even when you haven't been riding - with or without ear plugs. Believe me, it will suck not being able to listen to music with the same sensitivity to sound that you once had.
If you were constipated, would you rip out your large intestine? Hopefully not. You'd probably fix whatever fiber imbalance caused you to get backed up in the first place. Similarly, if your bike is running poorly, the exhaust is the last of many causes. Figure out what's imbalanced and correct it - if you want to keep your bike running well for a while.