Have a think about how you do this. The benefits are manifest but it could be more trouble than you have envisaged. I have done it before and would do so again. but I would carefully organise the activity to avoid downstream problems.
It is entirely likely that you will have to re-create both you're drawings and assemblies when you do this if you're not careful. Yes you will need to re-attach dimensions. I think it's a bummer, but if you want the payoff it is what you have to do.
Most people would want to keep the component name for the models and not the drawings. So....maybe you can do it as follows:
Firstly don't be working in Teamcenter, or you can ignore this next bit.
Since I would rename the drawings not the models, but it is more convenient to open a drawing create a component and then update the dimensions, you're faced with the dilemma that if you call the components anything other than their original name then next time you open assemblies they'll be populated with empty drawings.
So rename your files from say X123.prt to X123_dwg.prt then you can create a component called X123.prt (the original name), without having to overwrite another file of the same name. One easy way to handle the renaming may be to clone your assemblies.
Go into your load options and make sure allow substitution is ON before you open any assemblies. When you do there will be warning messages but the assembly should find the right files of the components without drawings in them.
When done look at using representations (faceted reference sets), as your default reference set upon opening and turning on partial loading in your load options. Doing those two things will allow you to load very large assemblies a lot easier.
Lastly if you follow this method wave links may be affected. They might show up as broken. For most people 90% of this is easily fixed, by simply editing some parameters a model will a broken wave link may warn you of it, but should not become unstable.
The option to do otherwise involves breaking out the components with the assemblies open and restructuring the assemblies before removing the drawing files. Again you could start by cloning, but be aware that I haven't favoured this method because knowing every usage of a component is seldom manageable so the risk of disturbing the wave links may more easily be managed retrospectively in my experience.
Cheers
Hudson