I just got the best PM from Pthomas. We recently exchanged a few letters, then he tore into his pump. He took his time and measured everything and learned a lot about his pump, how it works, and now has a much better running truck.
The best way to learn about how something works is to take it apart in my opinion. If you are interested in learning, then take your AFC off, disassemble it and measure the clearances. Measure your plate, measure where the rocker is.
My opinion on the no camplate issue is that zero damage will be done (to the pump). But I hate saying that because the people who sell plates will not like it and I'll probably receive dirty emails and slanderous insults in the future. I did say once that the there was little danger with the small pumps and more with the bigger pumps. Since then I've spent a LOT more time with the big pump and have learned that it really isn't an issue at all.
You have to understand that EGT will be through the roof. Understand that your EGT's rise much faster than most people's thermocouple's response time. So you may be in trouble long before your gauge tells you so. There are risks, but an exploding pump or bent governor studs/rockers is not one of them!
These are my opinions, take it as such.
-Chris