So I have a sled I been thinking about doing the samething to. I bought it last year for my son and it has studs. Between tearing up the trailer and drive, garage floor, I hate the studs! Knowing he has extra grip for stopping on the trail I'm very undecide on removing the studs...So far I have left them.
Changing tracks is about a 3-4 hour job, I did it on my old 2000 MXZ 700. Skid comes out chain case comes apart then you can get to the drive shaft and that clutch side bearing mentioned above.
As far as removing studs, yes it takes a while, but goes much faster if you have a power ratchet.
What will it do to the track, this is like asking which it the best oil. I had 100 different answers. The sled I did remove studs from was a 1999 ZL 500, The original owner had 192 in it. This was for my wife at the time. I removed all the outer studs left 2 down the center. On that sled when I asked everyone said the holes were not a problem. After reading about guys porting tracks on Snowest I figure I could chance it. It was fine and I never had any issues or did the guy I sold it too. I was annal about making sure the studs I left in were tight and the square backers were all lined up parallel to the track bars. I had that sled for 6 years then guy that bought it kept it for 2 years before going 4-stroke.
With all that said, the people that told me not to do it on this new 2016 ZR5000 said the track is a single ply unlike the 1999 ZL which was more... I not sure how much more. When I looked up the track for the 2016 it says it is a 2-ply... What I do know is last year when I looked at the track new it was $600 the same track is now listed at $800. If I decide to do away with the studs, I will just pull them, or better yet have my son do it!