Spencer 35 cutlass bearing mount

I am considering repositioning the engine mounts in my Spencer 35 in an attempt to lower the engine (and cover hatch) about 2 inches.  The raised hatch is kind of a trip hazard.  When I lower the engine, then obviously the propeller shaft is no longer going to be aligned.  I have to replace the cutlass bearing, so while I have the shaft out I could drill/cut around the mount and break it loose from the glass so it has some wiggle.  It isn't one of those nice bolt on types, it is glassed into the keel which is going to make it a pain.  After aligning the shaft with the new engine location, I could seal the mount back in with epoxy and it should be aligned in it's new location.

Does anyone have any ideas or warnings?  Am I insane?