Removing the front end is actually fairly easy.
You should be able to do it in a half a day.

You have to pull the front axles from the hubs and the
inboard end.
Once the axles are out, there's only 4 bolts that hold
the front axle/housing in...

Put a jack under it, remove the front drive shaft and
the 4 bolts that hold it to the frame and she's ready to come out.
You'll have to walk it to one side, drop the opposite side
down, walk it back and drop the other side down, to clear
some of the other things.... but it will come out pretty easy.

Then, you'll have to get some of those little rubber plugs
that have the screw in them that you can crank down and
expand the plug.
You'll need to put that on the backside of the knuckle/hub
where the axle used to go through, to keep any moisture
and gunk from getting in to the backside of the spindle.

That's really all there is too it.

...And yes, you are saving several hundred pounds of weight.
It will get a little bit better mileage,
but where you'll notice is your acceleration will be a good bit better.
That is a lot of weight you take out from the front end of the truck... it is definitely noticeable.
The fuel savings isn't going to be drastic, but it will definitely be measurable.
It's not about the drag... it's simply about weight.