RAB rolls his eyes
You may need to consider whether the port is actually in the wrong place! It may be better to clean up the casting than moving a stud, which I would not advocate.
Me? Yes, I've got Listers, so no problem. I would clean up the casting as long as I knew the thickness of the metal where it is being removed. A little overlap is not a problem. You will probably find the cross sectional area is not constricting the flow for cooling purposes - unless it traps a huge amount of air in the head.
Regards, RAB