Many years ago at a gun show I bought what I thought was a prewar model 70. When I had a friend look at it, he commented that it was all model 70 except the action, which was for a model 54, so it must be possible to do this. As I remember it even had a model 70 bolt release. ( note below, ;<) )
WRA had running changes, and when the phased out the M54 (aprox 50,000 made between 1925 and 1936-- they used the barrels in the early M70's, until they were out of them. I have a late 1936 M54 SG in .220 Swift with 26" stainless barrel, has been factory reworked in 1940 to the M70 bolt and release, trigger and second (side mounted) safety-- and has a custom reworked M70 floorplate, not with the SG stamp, and not hinged-like the M54- so it is a BA that I use as a single shot-you might want to get a copy of the Roger Rule book on the M70--