Anything is possible with wood. Keep in mind a couple things and you'll be fine:
-Depending on how much wood you remove from the heel, the neck anchor screws may end up being too long.
-The heel will have to remain flat to attach the plate. If you're planning on using countersink washers, this is less of an issue.
-Removing wood from the heel will also alter the edge on the treble cutout. This may or may not be an issue.
The main Pro of course is having a contoured heel that is designed for your own hand.