One of the first things I learned relating to mechanics is "nothing is foolproof, because fools are too ingenious".
That said, it would be near impossible to damage the hub, but if you really went crazy you could warp the rim enough to make rebuilding harder than with a new rim.
On the bright side, odds favor that the spokes will also be OK, so the greatest risk there is ordering the wrong length.
In the end, besides time, the most likely casualty of an aborted effort would the nipples, plus some time, and maybe some of your hair.
If you're willing to roll the dice a bit to pay for the education, then most definitely go ahead and give it a shot. When finished you can buy a beer, either to celebrate or cry into.
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Chain-L site
An ounce of diagnosis is worth a pound of cure.
Just because I'm tired of arguing, doesn't mean you're right.
“One accurate measurement is worth a thousand expert opinions” - Adm Grace Murray Hopper - USN
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