From my experience, deleting things from the content model can be very problematic. If you're going to delete a property from a type, you would need to delete all nodes created of that type prior to reinstalling your model, which I'm guessing is not possible in your system. Similarly, if you're deleting a property from an aspect, you would need to remove that aspect from any nodes that currently have it applied prior to reinstalling your model. Also probably not an option.
The only other alternative is to hide that property from the user interface, which it sounds like you've already done. Because deleting items from the model is so problematic, I usually take the approach of starting small when I create a new model and then add things as I need them, rather than adding everything that I think I'll need up from and then wishing that I could delete them down the road. Adding to your model is much safer than removing.
Also beware of setting an aspect as mandatory on a type after objects of that type have already been created. I messed up a repository pretty badly a while back by doing this.
You also should keep in mind what model changes might do to your index. Depending on the type of change you're making, you may need to do a full reindex after making your model updates.