You certainly can. Mr. Bowen just did that job for me and assembled a "Poor Man's K-32." It is a shooter. I would like to see a stock K-32 outshoot it.
If you are going to do the rechambering and firing pin sex change yourself or have it done locally, only sending out the barrel for reboring, you could skip the middleman. Bowen says: "Our reboring is done exclusively by Jim Dubell of Delta Gun Shop." http://www.deltagunshop.com/Clearwater/CW_about.html
Thanks for the heads-up about Mr, Dubell. I talked with Mr. Bowen today and he told me that he was not interested in only doing the barrel, he would however, do the entire job.