If GM had engineered the swaybar better in the first place, there wouldn't be any droop to gain. But because the bar attaches to the spring plates with no linkage, there is a fair amount of bind when trying to cycle both wheels in a straight up and down motion (both sides down at the same time.) That is due to the spring arch getting tighter (spring eyes get closer to each other) as the suspension droops and in doing so, the effective length of the spring (from main eye to center pin) gets shorter. The length of the swaybar arm stays constant and they (the springs and the swaybar) will not swing in the same arc. With off the shelf 2 1/2" lift springs, I would not expect to gain but an inch of droop, the same would be gained by adding a link (ORD swaybar disco's solve this problem) and keeping it connected (this allows the spring and swaybar to swing in different arcs.)
If you are wanting to know how much articulation you will gain, that is a different story. Even with the stiffest springs there is a large (definately a relative term) amount of travel to be gained by removing the swaybar. Just as when the effective spring length shortens on droop, it lengthens on compression (untill the spring begins to invert.) This causes the axle to not only fight the bind from lack of end links, but it has to fight the torsional strength of a piece of 1 1/8" steel. How mush more travel (in droop) I get with the sway bar removed? Each setup will be different, but the factory swaybar would have been the limiting factor with ANY setup so by removing it, it opens up the playing field. On my personal K5, I have 24" of articulated travel at the front axle alone, with the swaybar attached it would not have gone half as far. With the truck otherwise stock I had about 10" without swaybar and more like 8" with (stock numbers are rough guesstimates.) Basically you will be shopping for longer shocks and brakelines and crossover steering parts and maybe even a new driveline sooner than later once the swaybar is gone, whereas if you'd kept it installed, the others would not be a limiting factor.
My $.02