When utilized effectively (like it was last year and over the last few games) the read option can actually be tremendously dangerous. It is not effective when the entire offense is based around it.
The most dangerous part about the read option is its unpredictability and the radically different way that a defense has to adjust compared to standard pro option. But when teams only have to prepare for that its weaknesses are exposed.
I made this comparison in another thread, but the triple option is like a changup in baseball. It can be very effective, especially with pitchers who have a very good changeup. But if you threw a changeup with every pitch it would just be a really slow fastball.
In conclusion, keep the read option but only run it 5-8 times a game (more if its killing the other team and they are totally unprepared for it)