I'll tell you what I did Franco, I made a tool that removed that paint saver insert. I just took a wood block and nailed two nails through it at the exact measurement of the two notches on the insert. It was a bitch to get off and I had to be patient, and be very careful. As others have said I taped around it to protect my paint job.
This is a picture of my tank with the insert still in. I made the tool to fit the notches on it and twist it off.
Once I removed the insert there was some imperfections around the hole, so instead of leaving it just the way it was, I bought something called a "Paint Saver Plus". It's just a rubber gasket that holds a chrome ring. The rubber gasket is mounted around the hole using silicone and the chrome ring just fits right down in the gasket. It covers all of the imperfections and protects your tank from gas spillage.
This is a stock picture of one
This is what it looked like mounted on my tank
Afterwards, I could use any aftermarket gas cap I wanted. The paint saver plus never got in the way and was covered by the gas cap. Also I have never had gas seep from under my cap since I changed it out like it did with the factory cap. Plus during the hot summer days the factory cap would swell and make it damn near impossible to get off. Trust me, it's a lot better set up.
Here is a pic after I changed it out with a aftermarket gas cap
One of the best decisions I made after I bought my BDM. Anyway I can help, just shoot me a PM and I'll be glad to help in any way.