I've got something like Phil's setup on my truck. I rarely actually pull the pins to release the bar. If the trail is going to be on the harder side, I'll release it. My goal with the quick release was to reduce the risk of breaking one of the mounts off of the axle. When they break, they can wipe out a soft brake line.
I started out with some basic clevis pins that I think were 5/16" rather than 8mm. The were a bit too loose and made some noise when the sway bay flexed. I couldn't find any metric pins so I made some that fit more like the OE bolts and that took care of the noise.
I didn't really notice a big change in the on-road handling with the front disconnected. The rear is still in place and I running the OME heavy spring setup. Additional flex looks cool on the trail but a wheel drooping further without any real weight on it doesn't do much for traction or stability. The disconnects are an easy mod but the real benefit is in reducing risk to the brake lines. An alt mod that requires welding is to install better bar connect brackets to the axle.
'03 KTM 450EXC
"If you know what you're doing, then you aren't learning anything." - A. Lincoln