i'd recommend not eliminated it. if you ever drives in slippery conditions, having the ability to shift into neutral can save the car/you. if my shifter wouldn't lock in neutral i'd be throwing it into reverse or park which would be disasterous.
on another note, i'm not that old, and my first fiero you didn't even need a key in the ignition to get it out of park, my friends would consistenly "point it out for me" and it got beyond annoying.
instead i'd looking into the grand am/sunfire/cavalier/grand prix/etc style auto shifter. pretty well i direct replacement and can be picked up fairly cheap. i'd look for the leather-stiched one if possible, but they are all nice. i'm at school right now, but i'll post a pic when i get home if somebody else hasn't already.