meyermike lmicha, the short answer is "yes!". Outdoors, under optimal conditions, it can take a year from leaf initiation to frond emergence in some species. That is perhaps, the best reason not to remove palm fronds unless or until they cease to function.
With regards to the other, almost philosophical aspect, of your enquiry, my own view that the indoor plant functions as a painting or piece of sculpture. It must fit in with the location (room?). A plant in a study (I assume shortage of space) can be very different from a plant located in a sitting room (did you say 'even less room?') but in each case I would keep the plant on a maintenance diet and regular pruning to retain its desirable features. If I want to see 'what a plant can do', I'd give it optimum conditions and watch it express itself. Yes, I do have a Kentia palm, potted, outdoors, under a tree ('dappled shade' is an apt expression) where it has just put out a new frond after about six months. I still expect to bring it inside after it has put out at least two more fronds; I have seen pictures of the Kentia palm, inground, unshaded and I do not like what I have seen.

Thanks ronalawn82,

Sorry I took so long to come back. But your help is much appreciated. I will tell you, even though it may take forever for my Kentia to throw a new frond, they are so beautiful..:-)

Mike