You won't be happy cruising on one engine.
We have '65 41DCMY that I suspect has the same hull as the boat you are considering. She is diesel, so may have larger wheels than the gas boat. Over the years I have run on one engine due to prop damage or transmission problems. I have done so with the deal wheel locked, with it windmilling and with it removed.
With the prop locked the boat won't make hull speed no matter how much power you put on the good engine. In addition it is very difficult to steer and takes a great deal of opposite rudder deflection. There is no way you will save fuel this way.
With the prop windmilling you don't need as much power on the good engine to move the boat, but she still handles like crap. No way will you enjoy cruising like this and I doubt you will save any fuel. Plus, I'm not so sure the Velvet Drive that you likely have will like it. My manual says it should not be allowed to windmill. This may differ on some models depending on the style of reduction gear.
With the prop removed the economy is good and handling at hull speed is normal. Slow speed handling and docking is another matter. She does not handle anything like a single screw boat. You can't turn the boat into the good engine without significant speed, so you end up doing allot of 270 degree turns away from the good engine. There is no way you want to remove a wheel just to save a little fuel. If you want to go slow with this kind of economy you might consider a single screw boat rather than this one.