Ric, the difficulty here is how you remember that the user has said they want to disable cookies. Traditionally, to maintain such state throughout a browser session you'd use... a cookie!
If your privacy policy allows you to use LocalStorage -- you may want to craft a specific exception for "we will only store a single true/false value to remember that you do not want to be tracked, and we will never send that value to our servers" -- save the user's cookie preference in LS. You will also want to grandfather in their DNT setting. Then check that final value in LS before running Munchkin.init().
You should also delete any existing cookies whenever they decide they want to start rejecting cookies, or they could accuse you of not regarding their wishes (even if you never set a new cookie).
And you have to consider third-party cookies used for load balancing. Marketo sets those as well, and while they aren't used for tracking they would seem to contravene a promise to not send any cookies at all.
As you can see, it's not really a "one off" operation. There are unavoidable complications.