Removing yardage markers, GPS systems, or anything else providing an accuate distance might matter for about two weeks before golfers discover another method.
For example, it is very easy to determing key points on the golf course and know the yardage to the green. Knowing a bunker is 150 yards to the front of the green, knowing a key tree is 134 to the front, etc.
For the argument that it will somehow equalize the players ability, that is totally absurd. I understand the 'idea' behind it, but the better players will become much better in visually seeing a distance. Heck, when I play a round at my home course I pretty much know what I am going to hit without the use of a sprinkler head. Pin placements play a bigger role in that, and to be honest, it is still fairly easy to determine where the pin is just by looking at the green without a pin sheet.
I don't think it would speed up the game. I don't think it would be a popular decision. I don't think it would effect scores.
If the game is getting too easy, which I assume Tiger would be the first to complain, then go Pro. I think some of you guys are trying to prove you are a purist. Nothing is stopping you from playing like one. Don't use a tee, use a sand hill. Don't look at the yardage markers. Pull out your wooden shafted irons. Play an "old school" golf ball. I am NOT saying technology should continue to go without boundaries, but I am saying that yardage markers are good for the game. If you disagree, don't use them. If anyone thinks its a big equalizer....well, I am currently a 2 handicap and will play any 7 or higher for as much money as you want on a course without sprinkler heads.