If you remove Java altogther you will find that some webpages do not work correctly. It's commonly used for games on webpages or gimmicky things as well as legitimate web-based applications - eg financial stuff. Unless you are a web developer you should have no need for the SDK though at all. On my machine the Runtime takes up 150MB.
You could argue that having Java enabled is a potential security hole but common sense surfing and other protective measures mean you don't have to downgrade your web experience and do without it.
You could always uninstall them both and then reinstall Java at a future date if you find that you want it back after all. Personally I always have it installed. The download location is http://java.sun.com/j2se/1.5.0/download.jsp
and the file you want is currently referred to as "JRE 5.0 Update 3".