For new iPhone6 Want To Use Totally Without Any Passwords or iTouch. What Should I Disable ? Will Assume Risks

You can go to Settings > Touch ID & Passcode and after you enter your passcode you can then tap Turn Passcode Off on the next screen that displays.

You can do that and still leave Settings > iCloud > Find My iPhone turned on (which I believe is what you mean by "locator service."

You still will have to enter the password for your Apple ID for a few things such as downloading and installing new apps from the App Store. There isn't any option to not have a password for your Apple ID but it is seldom that you would need to enter it on the phone.

I understand your concerns but I do recommend that you use a passcode with the Touch ID mostly because, once set up, the Touch ID makes things really really simple and keeps your phone secure. If you purchased the phone at a brick and mortar store, take it back there and ask for help setting up Touch ID. Otherwise, find a younger (and geekier) family member to help you. You might wish to write down the passcode and you won't be the first but, if you never power down the phone, you'll never need it anyway. "Sleep" mode (again super easy) is just as good. There is also a mechanical switch (whoopee!) on the left side that totally silences the phone when necessary.

If you follow my advice and you're still uncomfortable, you can always delete the passcode as described by FoxFifth.