Currently I'm runing an 870 HD with a speedefeed pistol grip stock w/ the 2 2-round magazines.

However, I'm considering shifting over to a more traditional straight stock.

I do like how naturally the pistol grip aims, but, I can't cut the stock down and it feels too long. Also, I would like for the shotgun to be a little more compact, as the pistol grip sticks out.

Do you guys think the trade offs are worth selling this stock and going to a police wood furniture?

SpeedFeed makes the IVs which is shorter and you will still have a pistol grip.  Most of my shotguns have a pistolgrip buttstock and I wouldn't trade them for a "traditional" stock.  I'm sure there will be a ton of responses from traditionalists saying that a normal stock is best.

If you can gain access to a shotgun that has a normal stock, shoot it to see what you think before you sell anything.