Unless you just have to keep that rifle for whatever reason, IMHO you'd be far better off just selling it and buying something that you want. For one thing, some gunsmiths will frankly balk at the prospect of opening your bolt face up that much; many will tell you to either: 1) buy a bolt with the proper bolt face, 2) buy a different action, or 3) buy a different rifle.
While PTG sells bolts at a pretty reasonable price, by the time you buy one and have it fit and a handle welded on, the project probably just became cost-prohibitive. The second consideration, at least for me, is that I would want to have the action trued and the receiver threads recut. Using the factory barrel after that is a no-win situation both because of cost to set it back and rechamber and thread (assuming that's possible), and quality of the barrel to begin with. The receiver threads will now be too large for the factory barrel threads. Remington factory barrels shoot remarkably well for what they are, but I'm not about to use one on a blueprinted action.
On the other hand, plenty of people shoot factory barrels and untrued actions with perfect satisfaction. What you suggest wouldn't work for me, but then, it's not my gun.
