For you, it would slightly increase response and take a little from the top of your power curve. It would also be around 5% less efficient. A switch to turn it off is easy, you just drop the wire through a resistor to ground.
What I have is slightly different as I cant use the lockup clutch anymore in its stock form. When you shift into manual, the converter tries to lock under full load, mine cant due to the huge difference in shaft speeds. I have disconnected the solenoid but I fitted a switch to slam 12v straight onto it, for dyno tuning mainly, as its very hard to tune the low end otherwise. With the switch on it will hold a bit over 300kw before slipping back onto the converter so I have no idea what will happen with the new turbo. Obviously we will have to tune low boost first then add fuel with the map sensor.
If you like driving in D it wont help you much, if anything it will only suck more fuel as it always wants to be in 5th.
(Who am I kidding, what low end. lol.)