It's possible. If the shop really does it the "right" way and just barely skims the block so as not to move the crank up and make a stock timing chain loose, it might take too much off the caps. How thick are they to begin with? At .310, you might as well say you're removing 5/16 (.312) from the cap. That's a lot. Plus then, you'd need to have the bearing lock machined back in. I speck it could be done, but should it?