The danger from the ungrounded system is more closely related to the electrical system in the building being ungrounded, improperly grounded, or from defects in the wiring such as reversed polarity on the hot and neutral/ground wires.
Yes, it is very important NOT to remove a ground intentionally. If having the ground is causing issues, buzzing or hum, it is best to look for and locate the real cause of the problem. There could be reversed polarity hot/neutral wiring, swapped neutral/grounds, loose or bad wiring connections, missing or bad ground connection that is the real culprit. Finding it and resolving it is the correct way to deal with grounding..... not bypassing the system and component grounds.
Having said that..... a ground life adapter (several of them) was standard gear in the wire and cable box for every band I played in when we went to do a gig. They were "life savers" in many clubs where the hum in the PA of the guitar amp was unbearable..... and the foam windscreen on the mic kept you from getting zapped. You know we all did it.... However, in a studio, the exact opposite should be the rule of the day. Do it right or don't do it at all.
A few weeks back I posted this:
http://forum.cakewalk.com/Electrical-Grounding-issues-and-why-they-are-dangerous-m2875220.aspx Take a few minutes and read the background stories I link to for an explanation of why and how this can be dangerous. This link in the OP has several stories that you should read. One is about the issue of faulty wiring that doesn't show up easily using many of the common testers and testing methods and the second story is music related where a studio was set up and the building wiring was faulty, but didn't appear to be faulty. The result was thousands of dollars of gear being damaged when it was connected and operated. Good read for studio owners like the folks here who may set up a studio in a spare room, attic or basement of their home.
While a good ground is vital to proper operation of the electrical system and to personal safety, it's simply not true that it's there to protect the gear. The current needed to trip a breaker is hundreds of times greater than the current needed to destroy the circuits in most computers and audio devices. The ground simply is there to allow sufficient current to flow to trip the breaker to remove the voltage from the device to prevent a person from being electrocuted by touching it.
The device may have a fuse or CB in it that IS designed to attempt to save the circuit board...... sometimes that even works like it's supposed to.
Yes, so called "low voltage" can be dangerous under the wrong conditions. 12vdc will hurt you if you have wet or sweaty hands AND the power source is capable of delivering sufficient current to the load. Voltage is pressure, it is the current that does the dirty work and all it takes is around 60ma across your heart to create problems. Ground fault breakers and outlets are designed to trip with 7ma of current going to ground through them. You will feel that 7ma. The higher the voltage of the source, the more easily the current will be pushed through the load. But don't let the low voltage supplies fool you.
Voltage induced.... is a calculable number. Using ohms law.....E=IxR. Current times the resistance will give you a voltage..... but you also have to consider the rest of the circuit, including the load, not just that wire. In any short cable, the resistance and current is low so the voltage drop across the cable will be negligible under most circumstances. Probably not even readable on the average DMM. I agree 100%.... use the best cables you can get. Larger diameter wire, solid quality solder connections, good quality connectors on the ends. The larger the cable conductor is, the lower it's resistance to current flow and the more efficient it becomes.
If an interface or other audio device is supplied with a factory power supply, it is good advice to use that power supply as opposed to using the USB bus power since that is limited in many computers to a maximum per USB port and in some cases in not sufficient to power the device properly. Circuits that operate in a current/voltage deficit mode as a result may have issues including hum and other things that would be problematic in a studio situation.