Personally, I would be a little worried about not having a bypass. It sure sounds good in theory though.
My thinking is this....we all know that resistance is what builds pressure. Resistance in the filter itself is what opens the bypass so that it does two things; first it keeps the filter from building up too much pressure, secondly it lets thicker (cold) oil get to the bearings during crucial start-up periods. So when you remove the bypass, during cold start-ups, the filter may actually starve the bearings of oil by creating a restriction that can't be overcome by the thicker oil. Also, depending on what your oil pressure is, you may actually over pressurize the filter causing damage to the housing or the filter element itself.
If you live in a constantly warm climate and use synthetic oils it may not be an issue. Maybe just a warm climate is enough by itself, I don't know for sure. But I sure would hate to cause bearing damage by lack of oil. The Accusump will only provide oil for a couple seconds at best (but I still think an Accusump is a GREAT idea). I would rather just rely on regular oil changes to keep the oil clean and let the filter and bypass work as they were designed to. Or basically, I would rather have dirty oil circulate through the engine....than no oil at all. That's just my opinion though.