No reason it can't be done, just need a dremel or a gramil. IMO, yes more hassle than it is worth.
Like Glen said, yes, it can be done. It's an advanced technique.
But here's my most important bit of advice: DON'T use your 335 as a guinea pig.
It hasn't been restated in posts for several months, but PRACTICE on inexpensive yard sale carcasses. Then, after 15-20 binding exercises, you'll gain the skills you need to do work that compliments the overall quality of the instrument. Your ultimate goal is to duplicate the skills of the crafts-folk at Gibson.
NOTHING is more disheartening than to see a 'quality' instrument that has 'newbie/amateur' quality aftermarket appointments.
I encourage you to expand your craft talents, however, it's akin to 'a sin' to corrupt an otherwise nice and valuable instrument.
Have a great one,
I wouldn't do it.... 335's are too nice an ax to rethinking the cosmetics and risking the instrument in the process.
I would take Pauls advice and learn on an old junker as the Gibson is to difficult to do around the open book end of the head,It takes a lot of practice at best to make a nice job of it Good luck . Bill...........
You might start on a cheap guitar kit perhaps something like this: