So i made a call to H&R, to get thier take on this mod. Although the techrep I spoke to did not tell me it was ok to do it, he did say that the ultraslug 12ga is the same reciever as the 10ga which handles the 3.5" round.
I called Josh (my local smith) and his price to do the mod and mount my scope is $175.00. This price seems fair to me as the reamer is like 200.00 to buy, and in all honesty im not experienced enough to tackle such a task.
It kinda breaks down like this, new thumbhole ultra= 350.00+175.00= $525.00 (lol I can add) The gun would be an awesome monster but 500 bucks worth, I'm not sure. I put the supermag up for sale and maybe if it sells i will invest in this.
Thanks once again for all your help