I would want to take advice on the gearing before doing away with it, from someone who has a Waveny first. In any event if it is fitted ok, seems not worth the effort to get rid of it and fiddle around going to direct drive.
It depends on the size of prop you need as to if you need gearing or not. 550`s will turn 40mm props easily direct, for instance, if this is the right size. OR have 4 blade 40mm props and gearing ??
Sorry no easy answer here. Need a Waveny man to post to correct my assumptions.
Ashley