FWIW, I dont have the sight issue on my 38-55 TM, just decided if I cant see 'it' I cant hit it, so I swapped out the BC stocks for my Ultra Varmint set and put on a scope. What a difference(!) in looks and shooting for me. I LIKE it!
So, if you dont see a need for the front sight just pop it off and install a blank, rather than cut it down, and give it a go with the scope to see what you think.