Ok So I have this idea...
I own a fretted Brown bass that I use as my main bass, and I have a SC STD with side led's that I would love to make a fretless.
Any thoughts on this
Am I nuts ?
Thanx

I'm guessing the SC has oval inlays.  If so, (I've never done this but) I'm told that when sliding into a note, as your finger moves across the inlay the tone will change.  As far as resale value, in addition to the problem of inlays on a fretless, it doesn't help that the side LED's are between the frets rather than on them.

Great points, Better to order a bass the way I want it.

I'd say it depends on how much you like the SC.
 
While I agree with Dave that de-fretting it is probably not a good choice, you might consider sending it back to Alembic to have the fingerboard replaced - and, of course, a brand new set of LEDs installed.
 
Wouldn't be cheap, but a lot less than a whole new bass. I'd say it might depend on whether the bass is otherwise what you want. Just a thought.