Will removing the EGR valve give me more hp at lower RPM. I heard that all it does is puts exhaust gases into the intake manifold at low RPM and this weakens the throttle response.

 

Probably not.

 

EGR is designed to run at part throttle. It's purpose is to introduce inert exhaust gas into the combustion chambers to lower cumbustion temps. This helps reduce the formation of oxides of nitrogen. If the EGR is working properly, you'll not note a gain nor a loss in power. Leave it be; it's not worth the hassle of removing and programming out of the PCM.
Tim sends