Sort of. We've made our fair share of #2s. The basic answer is yes you can do it. THe issue is that the two barrels are not only different diameters BUT they also taper differently along their entire length.
The critical issue for you is the channel of the forearm. Here's what I get.
Barrels:
#1 at the reciver 1.195, at the mid point of the forearm, 7 1/2" from the reciever it's .864 at the last place it touches the forearm, 13 1/8 inches ahead of the reciever it's .779.
The #3 barrel is .1.116 at the reciever, .856 at the mid point of the forearm (#1) and .774. The #3 barrel also tapers much more slowly from the revier than the #1.
Essentually if you are installing a Semi Beavertail forearm off a #1 onto a factory #3 with the factory barrel, there will be a gap around the barrel within about 3 inches of the reciever. After that you need to open up the forearm channel to make the #3 barrel fit.
While we usually don't leave #3 barrel on them and usually either use a custom barrel or a factory #1 barrel on the #3 action we have left one or two as #3s. To make it look corect we simply wrapped the barrel at the reciver in tape and filled with ACCRAglas dyed brown and then just relieved the channel from that point on.
It's really pretty easy and straight forward
RWT