It's just nowhere near worth the effort. You'd have to take of a couple millimeters before it was really justified and there's no reason to remove that much material.... On an block bad enough to merit that much material cut off you'd need to put on a thick MHG or add a shim and if going for higher compression using better pistons is far preferable to bringing the stock pistons past the deck during operation.
I may be off, but I believe that a different belt would require either smaller teeth (leaving less contact area) or smaller teeth and new gearset... The removal of one whole tooth would be too much and you'd end up just as far off in the opposite direction.
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