When you drop the paid listings your site may drop from the index until it's re-indexed by the free spiders.. Depending on the amount of traffic/business your getting from Ink, it may or may not be worth renewing..
I also did the 29 dollar inclution but then did the PPC. Once my PPC money runs out will it affect my non-PPC rankings. I ranked very well in MSN and I am hoping that i don't have to put more money into looksmart.