I have the Carlisle installed in my trailer since the 08 450 did not have the disc brake option but now with the 2015 350 having the disc option; should I remove this Carlisle cam? Will it change my braking performance?

 

It is my understanding that the adapter only makes up for compatibility issues in the electronics, has nothing to do with actual braking.
"Handshaking" between your truck and the trailer.

The manual is vague on what the difference between the two setting is. I have seen no difference if I forget to change the control between my trailers though.