Well the answer is "YES" of course the bolt handle can be forged and reshaped.

I heated the handle at the different bends that were cast into it, and first took the bends out that I didn't want and then curved it forward. I started out to try and draw the knob out into a longer stem, but it was pretty hot today and everything had gone so well up to this point I decided to stop before I tore something up. I did forge it into something close to a cylinder before I quit, but I don't think I gained much length. I made a quicky aluminum knob for it, but I think I will likely make some changes to it before I call it done. It makes the action much easier to cycle and the extra leverage pretty much eliminates any concerns about the bolt lift issues.

I will take some pics and get them uploaded ASAP.