I have done that for about half a dozen bikes over the years. I do it both to keep all my bikes on the sane wheels (at least in front) and also to allow bigger tires and fenders. I usually put a Mafac Racer caliper in front, nicely taking care of both the additional reach and giving good wet weather stopping power. (Most of these bikes are/were all weather commuters.) Also quickens the steering a small amount by reducing the trail which I like as I ride with very long stems.

Ben