UPDATE!!!!!!!
Here is a picture of the balance shaft assembly:

You can see the little oil supply hole in the lowest left hand corner of the picture. It is by one of the six big bolt holes. This assembly weighs in at like 20 lbs so not only does it free up horsepower but it offers the same weight savings as a cheap carbon fiber hood or trunk and it also increases overall system oil pressure and aids in keeping everything well lubed. Here are the effects I noticed:
1.) Oil pressure increases and allows for better block lubrication and higher volume supply. I measured very noticable gains in pressure throughout the range of engine speed. Con is that any small oil leaks become bigger due to more pressure behind the leak. Easy fix, run synthetic with a lower viscosity, I run 5W-30 instead of 10W-30 and it will drop pressure a bit more than dino oil.
2.) Weight savings of about 20 lbs. The two balance shafts are a parasitic drain on the crank and as speed increases their drain becomes more apparent. The actual rotating mass is only a few pounds but think of this, people will pay like $140 or more for an unorthodox underdrive pulley that only shaves a few pounds as well and you sacrifice alternator output and wear on the crank bearings. This is free and offers all kinds of benifits and only downside really is a small amount more vibration. Theunit itself weighs enough to factor in to a weight reduction program.
3.) Engine revs much faster. I noticed a very decent increase in power. Not huge but I could notice it. I removed my AC and my balancer at the same time and I definitely pull ahrder in 2nd and 3rd than I used too.
4.) The increase in vibration actually helped me, I can "feel" the motor reving now and I dont have to look down at my tach as much when I shift. I can feel what rpm I am at better and this has helped me out a good deal in heel toe downshifting and in normal driving as well. The increase is small enough that no one who doesnt daily drive the car will notice and after a week or two niether will you. It also motivated me to get under my car and tie up a few loose vibrating pieces that I had previously kept putting off doing.
This is an easy free mod that anyone short on cash looking for extra performance should do. Hell the MR2 5S-FE's dont even come with balancers. Oh and BTW , you can now sell that balancer for about $400-$500 on Ebay or to someone else who needs a new one... Happy modding!