If you fade, you will get treated differently by different dubs because they are relying on their indoctrinated "conscience" rather than a hard and fast shunning rule such as for DFing or DAing.
The main advantage of fading is that it does leave the way open for family to keep in touch if they want to and if their "bible-trained conscience" allows them to. Especially important, I think, if you have vulnerable or elderly parents or family members.
As Black Sheep wrote, there is high pressure to unofficially shun faders who are known to live a lifestyle that doesn't comply with JW rules. In my case, now that word is getting around that I'm gay and I have a partner, I do get a few snubs. But on the other hand I do occasionally get letters from a few in my old congregation and the odd polite chat in the street if our paths cross.
My family don't shun me and I still get invited to visit home, where you would never notice anything has changed except for the concerted effort to not talk about doctrinal or controversial stuff and to only talk about how wonderful JW Land is (if the topic comes up). That said, this is still a fragile situation. If I explicitly stated that I have had a same-sex partner for the last five years and was planning to move in with him, I think their "bible trained consciences" might max-out and that would be the end of it.
So, for what Terrance has stated to be true - yes you can fade, but if you keep in close touch with any still-in JWs you must be seen to be continuing to lead what they consider to be a moral life-style, not what YOU consider to be a moral lifestyle.
As Oscar Wilde once said, "selfishness isn't living our lives the way we please, but asking others to live their lives the way we please". That pretty much sums up the JW expectations of faders in my opinion.