A lot cut a notch in the peg, and reboil/repop it, so yeah that's possible, just takes some work.
Also sometimes (if you're not extra careful) a limb's post will stretch when you pop it out so you may want to make sure it's gonna fit. WIth Torso splits that's not a problem, you can rebuild the figure to make sure the fit is tight, but otherwise just look and kinda eyeball to make sure it didn't stretch at the post so it is loose when you repop the limb/head onto the figure.