if you dont understand how a system functions for yourself, you really shouldnt mislead others by trying to explain it.
the EGR system has nothing to do with burning unburnt hydrocarbons...the converter will take care of that (and has been since the 1970's).
the EGR system is designed to reduce the production of a pollutant called nitrogen oxide (NOX), which only forms in combustion chambers over a certain temperature. the EGR system prevents their formation by lowering combustion chamber temperatures.
exhaust gases are inert, meaning they do not add any fuel or air to the combustion chambers, all they do is take up room. since they are cooler than the combusting a/f mixture, they provide a lower combustion chamber temperature.
i can hear it now: "but mr sludge, doesnt the exhaust gas taking up room mean i have less room for air and fuel, and thus, less power from my motor?" no. the lower combustion chamber temperatures mean that the ignition timing can be advanced further than on a non-EGR engine, thus making up for any power lost due to exhaust gas presence in the chambers.
furthermore, all EGR operation is shut off during wide-open throttle...meaning even if the EGR system did cost you power, it wouldnt effect peak power.
as was mentioned, your computer is programmed to account for the EGR systems presence (primarily in the form of advanced engine timing). disabling the EGR on an engine programmed to run with it will cause a number of drivability concerns including, but not limited to:
-knocking/detonation - this can be fatal for a motor, leading to broken pistons, rings, and connecting rod bearings.
-lower fuel economy.
-rough running during cruise speeds
-check engine light
-failed emissions testing
-decreased power output
as was also mentioned, removing the EGR system is highly illegal. in fact, its against FEDERAL law to tamper with or disable any factory equipped emissions devices, regardless of wether or not you have emissions testing and/or inspections in your area. if your within the borders of the united states, your in violation of the law and the fine is heafty.