If I recall correctly, the channels are a folding and welding area for the body to meet. When you simply grind these off, you are essentially take out the framing of the body. I would anticipate this will possibly damage the body and remove the safety torsional stiffness of the car. If you have this done, make sure these areas will be re-welded by a competent body and frame shop who are familiar with the 911 design. I would also think you will need a roll-bar after such modifications.
You mentioned "Keep in mind that this is not a daily driver and probably won't be purposly driven in the rain."
Does this mean it will be a track car? If so, talk to the guys who race. Find out what they think. And find out what modifications they have done.
I don't think you will gain much on a street car. So unless you plan on being over 100 M.P.H. over 80% of your driving time, I don't think you will gain much by shaving the rain gutters.
Just my .01
Nick
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