Not only possible but I have done it. Before the 5 option limit I did it even more. I orderd one for myself with a nickel silver single hilt, stainless, thumb notches, aluminum & black spacers, stag handle, nickel silver butt plate, wrist thong and a black sheath. When I received it I thought it was the ugliest thing I had ever dreamt up. Sold it the following weekend at a gun & knife show!
I will tell you that it would have been an excellent "gutter" with that blade design...but so is a "Small Gambler" with the reduced hilt. Hope this helps.
Best, Capt. Chris