mtbugle: is this a hypothetical or have you seen/read something about this and want to find it again???
This is indeed a interesting idea unless you need your AR to function like a battle rifle and then, as we found out in Vietnam, Afganistan and Irag, you can be verry skweud if it goes single shot on ya....
The idea of a straight pull bolt is old, yet remains extremely sound and reliable and has even been updated as recently as the 1990s. I think the Canadian Ross in 303 British is the oldest stright pull bolt I can think of and there is the Schmidt-Rubin in 7.5mm Swiss, both great rounds. I believe a rifle named the Blaser, a redesigned straight pull debuted in the 90s and I'm not certain but I think the M1998 Mauser was straight pull ( don't quote me on that.....).
So, there are straight pull bolt rifles out there that new would probably cost you less than a new AR upper in the caliber of your choice and the cost and labor involved to make it work like it's broken....... ?