I also have an 07 and recently had a sensor go bad due to a low battery(3v inside each sensor).I bought 4 new AC Delco sensors at Amazon, it was the best price around. I thought about eliminating them too but, then my wife was planning a long trip in the Malibu and got a low pressure alert the night before, found a screw in her tire and pictured here stranded on the thruway had we not found it in time, so now I'm a TPMS guy.
The pressure readings of the TPMS sensors is a relatively close representation of actual PSI, they are really more concerned about all being the same pressure to expose a low tire pressure.
My understanding is that when you adjust tire pressure you need to go for a drive above 20mph to reactivate the sensors, once you stop they go into a sleep mode to extend battery life...Mike.
ACDelco 25774006 Tire Pressure Sensor : Amazon.com : Automotive
As for installation...take it to a tire shop, they are too delicate and too expensive to risk a back yard repair.