Install Profiles - how to switch?

What is the implication of using a profile vs a standard drupal installation? I installed the DisplaySuite profile, then decided not to use displaysuite (although I will use most of the other included modules).

The only difference I see is that some modules are in /profiles/displaysuite/modules and my profile on my status report. Should I change to the default profile and move the modules to the sites/all/modules folder? If yes, how do I change my profile? Must I disable the modules before I move the source code? Will I lose any configuration (e.g., turning on all the modules, configuring them, adding missing content types like Page & Article)?