Pulling the rod off will give you 0 boost. If you keep the gas on the floor for a while, it can creep to 3lbs or so but that's it. It's the rod on the top of the turbo. It goes from a swinging arm on the exhaust side to the round actuator on the intake side. I don't really know how to explain it. Maybe someone could post a picture.
Be aware, these cars are painfully slow without boost. Even in normal driving when you're not in boost, the turbo is still working a little as you will see.
Honestly, if you drive it easy and don't hit boost, I doubt there will be any mileage difference.