I know this is super old and probably nobody is reading it any more, but I somehow stumbled across it today and it is the reason I registered on this site- I figured I'd respond anyway.
I would say I'm pretty much doing that, but I don't intend to do it for many more years. At this point my husband and I don't believe at all. I consider myself agnostic- the idea that we have a loving God who wants to help us is a nice one and I'd like it to be true, I'm just not sure that it is. I don't believe in the divine origin of scripture at all. We explained our position in a lengthy conversation with our bishop when they tried to give us teaching callings, and I have been mostly pleased with the result. I don't feel like we've been treated differently, and I don't think they've spread it around the ward by any means. I assume the whole bishopric knows, but at least one of their wives (the one I sometimes hang out with) seems not to know. We currently hold callings that don't require us to teach (he's a pianist, I'm a secretary).
My main difficulty comes when I consider my young, growing family. My latest baby was not blessed (we were able to slip that one under the ward's radar), and we don't intend for any of our children to be baptized- that one will not go unnoticed. For the most part I see the church as a positive organization full of well-intentioned leaders and members, but there are a few doctrines, policies, and procedures that I think can actually be harmful. If we stay half-way in like this, we will eventually be found out, and we'll undoubtedly become the ward "project family." With genuinely good intentions all my kids' teachers, friends, and friends' parents will try extra hard to convince them, guilt them, and peer pressure them into believing, getting baptized, serving missions, etc.
One day I made a list of all the things I would really miss about the church if I were to cut it out of my life completely, then I made another list of different ways to fulfil those needs and desires. One of the BIG ones is the social network of fairly like-minded people. I love the instant group of connections you get when you move to a new place- for the most part they are positive, friendly, try to avoid harmful behavior/activities, and have a healthy focus on family, self-improvement, self-reliance, and service. I'm not yet ready to make my break (I still live very close to active, believing family and friends), but when I do I've got some places to look for a replacement. A few items on my list: regular volunteering (try out some different ones until I find one or more favorites), community choir or orchestra, maybe even theater, outdoor recreation (you can make good friends on a hiking trail if you're open to it), community college classes for fun, more creative and frequent date nights.
Good luck! Hopefully you've already got your own situation figured out by now, but it just feels good to get my thoughts out there anyway.