Regarding the light...look on the top right of the sight...there is a little disc that has a place to use an allen wrench on it...remove that and the light screws in there...it actually shines on the coils themselves not the pins, helping to eliminate the amount of light the prey would see coming from the sight.

As far as taking off a pin-I guess I wouldn't if I were you, you never know if/when you might want it...I would probably just push it all the way to the bottom and forget about it for now, or if you want a 4 pin sight they do make one..that's actually the one I have and I love it!

Another tip, make sure you really tighten the screw that adjusts the vertical on the sight...before I tightened mine enough I had problems of my whole sight moving up after doing some shooting