Colorado Pete,
If you do your own gunsmithing, and have no paying work now, setting it back is OK. May be good for another 100 rounds. If you are going to pay somebody to do it, forget it.
Been there, done that, many times. If you look at the barrel with a borescope, you can easily see that to get rid of much damage you would have to set the barrel back 6-10". That is not practical for several reasons:
Too much loss of length.
Unless it is a straight bull barrel, not enough diameter left for the new chamber.
Jack