Changing Track Method - From Lot to None

There are a handful of items that were setup incorrectly in the past. These items were setup to be lot tracked, when they did not need to be. It's creating some extra work when it comes to receiving and production, I've been asked if there is any way to change the track method. 

What I've done (in our test environment) is manually changed the track method to none by temporarily bypassing some of the update validation checks. Now, these validations are there for obvious reasons. From what I can tell there haven't been any adverse side affects from changing the track method. 

I'm wondering if I might experience any adverse side affects from this? We don't care about losing lot information on these items.