[Land-speed] Destroking a Crankshaft...

[Rick Byrnes]

Doc
My answer to your original question, is why not.
If you find an existing forging or billet, there is no reason that it cannot 
be done reliably.
I did some cast cranks for ford about 25 years ago that were welded, heat 
treated, nitrided and ground.  They were not extremely durable, but then no 
cast iron crank is.
These iron cranks we welded did well enough as prototypes to get test 
vehicles running quickly.