i have heard of people doing this but other than that run a search on it here
To modify a stock cam, you grind the base circle. About all you can accomplish with this method is an increase in lift. By reducing the diameter of the base circle you will increase the load on the rocker arm. This method was used at the beginning of the CB750s production, as proper regrinds or billet cams weren'ta available.
They were very soon after however. A regrind is usually welded up with more material so you have more to grind down. You can increase the duration and lift.
Better yet is a fresh stick from billet, if that's the proper word.
For the price of a proper billet cam, <$200 can't see the draw to the first option. And the second option may be even more expensive.