I must say, that after reading replies on this, including my own, I'm rethinking not having brakes. I did take my drum brakes off when I first got the boat, but it was because they were rusted solid and basically fell apart when I initially removed the drums.
My tow is short and at low speeds, but the thought of sliding into an intersection and injuring or killing someone, is a little unnerving. I'm going to look at the possiblity of adding disc brakes to my trailer this winter.
Sadly, I should know better. I was a full time police officer here in Florida for 7 years and still do it part time. (Never a traffic cop, I worked narcotics, not that it's a defense.)