unpluging the knock sensor will not trigger the check engine light. Wise? On a non-turbo motor you should be able to do it and not even worry , not much chance of pinging anyways.
I took mine off and i got worse gas mileage... Nothing besides turbo will make the 2.3 fast and furious yo. Worst part is I put it back in and it was non-working, so I had to get a new one...