I was waiting for a fresh PAIR thread.
I found that O'reilly's (and possibly other auto parts stores) carries the perfect item to block off the ends of the of the pair system. It's called a vacuum cap, and my guess is it's used on cars when people remove a vacuum powered item and want to close off the leak created by the removal.
You can pull the hose, and stick something in the hose to plug the airbox, then get a vacuum cap that is around 1/2" to 5/8" internal diameter and stick it on the nipple coming from the engine (the come in a box of random sizes for the large ones) Then clamp it down with a hose clamp that has a hand tightening key, for tool-less removal. This will give you can air tight seal to your engine.
Initially, I just stuck one of those cone shaped caps (for a Lucas bottle) in the engine side of the PAIR system, but it still let a little air through. Then I found the Vacuum caps and capped the engine. Then I removed both hoses from the PAIR valve because the airbox side of the PAIR system is on the filtered side of the airbox, and I didn't want to risk water or debris getting past the valve somehow if a plug fell out somehow. I plugged the airbox PAIR nipple with the same kind of vacuum cap and I left the PAIR module in place.
After I used a vacuum cap the decel pop was nearly gone. Occassionally you'll get like an Accel pop, or even a decel pop if you're coming down off the throttle hard, but I think I probably had similar sounds with the old exhaust, except they sounded quieter.
I attempted to remove the PAIR module and connect the two wires together. I still got a FI light, and the bike ran like ****, so I reconnected the PAIR module to the computer. It turns out that you need to short the system out with a resistor. I didn't want to go to radioshack and look for the right one, so I decided to leave the module in place.