I did exactly as you are planning. I had a baseball size dent right behind the hood latch panel that I couldn't get to any other way. I took mine down as far as it would go. It went back together pretty well. I drilled the 3/16" holes for the rivets where the two halfs joined to 1/4". I then bolted the two halves together. This allowed me to shift the two pieces after reassembly. Then you can paint between the two halves and the back of all the braces and the hood itself. I put the braces back, then riveted them and re-welded them. Then I test fitted the hood on the truck before snugging up the bolts. I would do it again if I had another hood that needed it.
Scott


1947, 1950, & 1952 Chevrolet 1/2 ton
1952 GMC 450 series Cab Over Engine
1946 Chevrolet 2 Ton