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Stripping of the grip frame has been done quite a bit. My only caveat is that if the gun is a rarer variation,,, it would lessen the value. While you can easily replace a grip frame,,, leaving the original one "as is" is an option best considered after you determine the value.
And if it's a common variation, and you do strip the g/f, often, folks strip the ejector rod housing as well to give themselves a "Pinto" look to the gun!