No. The car will run better with both trims enabled like stock.
Periphery 0 disables/enables a bunch of functions. Periphery 2 and 3 control the DTCs (check engine lights). I've found it's best to completely leave periphery 0 alone and only turn off the CELs in periphery 2 you don't want. Of course, in V1 many are wrong... :(
V2 will be 100% accurate though. I've verified each bit in my car.

