Ok Guys for those of you who want to know. I did this and it is a simple mod and a lot of improved performance. I made a blank off plate out of stainless steel about 8mm thick. Installed that and then put the pipe back (just for looks). Turbo kicks in quicker so I actually feel a difference in power. No Check light coming on ( I ran it hard and in traffic and all that). Best of all, no smoke. I will change oil on the weekend to see if it stays clean as some people reported it does.
I also installed an oil "catch can" designed for a Toyota Tundra to keep the oil out of the intercooler from the PCV valve. Hopefully this will stop the problem I had with the intake getting clogged up with gunk from the EGR and PCV valve oil mixing together. I cleaned out the intercooler as well so no oil in there anymore. Hopefully it will stay clean now.
Right now all I can say is De ting wukkin!