Trust me, you don't want to shorten the bolt body by 0.070". lol All you would likely accomplish is the need to order a replacement bolt body.
Also, the point you're measuring from probably isn't the best place to gauge travel from as you have five parts that could affect said measurements with their tolerances: bolt body length, cocking indicator tail length, rear baffle, bolt handle and the BAS (bolt assembly screw). Let's just say each part has a +/-0.010" tolerance - there's 0.050" right there if they're all on the plus side.
Sometimes it's just best to leave well enough alone when it's working good rather than mess with it and create a headache for yourself.
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