I had it done 40 years ago. I found a brand new .455 clyinder. My gunsmith in culver city california, Dan King, probley now retired or 90+ years old, reamed it to .45 colt. For some reason I dont know, he also used another crane. It was fully functional, reliable and accurate. I dont remember any extra play.
He also milled the frame and added S&W target sights, a nice front ramp the contour like a colt trooper, red post, WO rear. He beavertailed and widened the hammer and nicely checkered it. I also added S&W target stocks. When he got through with it, you would have guessed it was done at the factory! It was a convertable by just removeing one screw.
Even with the work adjusted for inflation, I doubt it was much different than paying $400 for the same job today, if even that!
The price of the gun, new clyinder and the labor, I doubt I had $300 in the job around 1970. Dan King was unknown but as good as the best known guru`s of today. His father was also Dan King who originaly started King Gun Works in Los Angeles, later owned by Al Capone.
I dont even have a picture of that gun. I used to dream up stuff like that and trade around a lot back then.