Stopping performance is unaffected whether or not the damper plates are installed. But it has been my experience that with damper plates installed there's less or no brake squeal, especially when using track pads. Some track pads are made slightly thicker than OEM, thick enough that the damper plates will interfere.
On my car I kept the damper plates with track pads. On the cars that I am exposed to my car is the only car that doesn't squeal with track pads for what its worth.
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