Yes I did it
and it's OK.
here's the videos to explain how and why....
I had the holes in the Moleskine notebooks drilled at Officeworks. They tried to charge me $1 a hole but I bargained them down to $2 for the six. I did it to fit the Moleskine into the rings - but found that I loved the notebook but wasn't keen to keep having holes drilled each time I wanted to add a new notebook. Hence the ringectomy. But I will keep the 'holed' notebooks for this year as I have already started writing in the notebook and there's too much to reproduce.
Overall? I am sad I had to remove the rings, but have no regrets due to the amount of space it created
...and here's some photos