1985 745t

So I've been noticing some noise from the AC pump under the alternator lately. I thought the noise was just the belt, but it also sounds like it might be a bearing.

Regardless, I am considering just cutting the belt, and am wondering if this is prudent. Basically I never had the conversion done, don't have AC, and while I "might" do the conversion in the future I can just as easily see myself never getting to it. My questions are as follow:

1) Can I just cut the AC belt with no effect on anything else?

2) If I cut the belt will the AC unit rot in place? Will it seize?

3) Is having the AC pump moving (with the belt) better for it than having it idle?

4) If I leave it as is will it get worse? Is there a possibility the AC Pump could get exponentially worse (like breaking) and start leaking fluid?

I figure its pretty isolated, and that cutting the belt will just increase mileage (by decreasing the resistance from the belt) and insure teh pump doesn't cause a bigger problem down the road.

Okay, enough prattle. Any thoughts are greatly appreciated.

Thanks,
Rick