I'm reminded of this Google Tech Talk, where the speaker (Jon Bentley) refers to a colleague's praise of someone who "adds function by deleting code": http://www.youtube.com/watch?v=aMnn0Jq0J-E
For added value combine with sloccount when removing code (I removed $200k value from our software, fixed 8 bugs, and removed that stupid limitation about green text today)...
Edit: Fixed quote