Couldn't have said it better myself.
Becoming one with your community will allow the community to grow. A good leader is avoiding being a 'boss' per say. You can do everything that the administrator role entails but there is no need to enforce the status. People will already know you're in charge without you having to tell them. And in my opinion, it doesn't really matter if you remove the title altogether. So long as the administrator duties are being fulfilled in the background none will be the wiser.
Do what you think is comfortable and how you would want to see a community if you