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If you are removing it from the product title and the product title populates the link text from category pages, related product boxes, and other places you would be drastically altering the internal link anchor text to those pages. Taking it out of the title tag could have a huge impact too. The real question is: What do people search for? If your analytics show high search traffic and conversions for "Long Sleeve Cool T-Shirt Name" then you wouldn't want to make the change without putting some more thought into it. For instance, you may be able to salvage some of that internal anchor text by using title attributes on the text links and alt attributes on the linking images from category pages. If, as you mention above, nobody searches for "Long Sleeve Cool T-Shirt Name" and instead most people search for just "Cool T-Shirt Name" then you probably only have better "Cool T-Shirt Name" rankings to gain by removing the "Long Sleeve" portion from internal anchor text and your product detail page header tags.

Hi. I know I'm a bit late to the question, but Google favours unique content. Google will issue warnings in GWT if you have just copied and pasted from the page content. You should be looking to write a compelling message that informs viewers of the content of the page and urges them to click through to read more. I found this [relatively] recent article useful. I just so happen to be looking for more examples when I came here. http://econsultancy.com/uk/blog/62553-33-examples-of-great-meta-descriptions-for-search

Totally agree. Did the tests .. and i"m always good ranked with targeted keywords on front.

Thanks for your very thoughtful response! I'm glad to hear that we're not the only company who's spent a long time pondering this questions. Mostly, we've been doing a combination of volume (wow, there's a lot of items like that) and a bit of search (wow, there's a lot of people looking for those.) Thanks!