I guess you are hinting an opentype/postscript-font?

I can't tell for sure, but i removed the verticals from my Tierra Nueva Italic too, as there was no result that "just made it look good".

>Is there any reason why I should NOT do this?

Assuming you mean you are removing the hints, but leaving the stems themselves, yes, this is a good idea and the general rule of hinting for anti-aliased output is to not hint anything you can't align to the pixel grid.