But you STILL need the blue "under the hood," depending on the year of your car and what's under there.
On the 70/ later cars the blue supplies power to ignition (in this case MSD red trigger); regulator power; alternator blue field wire; electric choke if used; Some smog doo dads on some cars, idle solenoid, etc. I don't remember where the A/C clutch comes from if used.
So in the end, there is not a heck of a lot that you can do away with.
You COULD clean up the blue where it splices off to things and hide that, along with a simple bullet, etc, connector for the MSD "small red"
Really, that's about it. After all, Ma didn't just throw a bunch of wire in there for the hell of it.