I can get a crazy deal on these Orion subs with enclosure ,http://www.orioncaraudio.com/Products/Products.aspx?ProductID=527 but it comes set up @ 1ohm. Now if I remove the sub and re-wire the voice coils to 4ohms do I lose out on anything (sound quality, etc.)except my ability to run my amp @ a 1ohm load?

That should be fine, wont make a difference

No, you do change things though...

Depending on the amp, you WILL lose some overall power... say you get 600w @1ohm, you'll prolly end up near 300w @4ohms...

As you lower impedience you also increase distortion, which is difficult to tell any sort of difference on a sub, but it does happen.. so going from 1ohm to 4 ohm will net you less distortion overall... Will you be able to tell, prolly not...

Long answer to the above statement

Are you planning on using an amp that makes maximum power at 4 ohms? Like a bridged 2 channel? If so, then wiring the enclosure to a 4 ohm load would be the best option.

well my amp is stable down to 1ohm, but the subs are only 500rms and 1000peak. my amp @ 4ohm will do around 350rms and around 700rms @ 1ohm. i was just looking to keep the sub in a "safe power lever".