Absolutely possible and relatively common. I've done probably a dozen of these over the past 2 months. As DeeDeeCues mentions above, it becomes a PITA, but still doable, if the cue is warped. Leather thicknesses vary greatly so sometimes you need to cut a deeper wrap channel, sometimes you don't. Depending on the various variables (warp, thickness, wrap channel depth, etc.) this is typically a 1-2 hour project. Cost will vary depending on time required to prep the cue for the new wrap and cost of the wrap itself. Wraps are out there from under $10 to well over $100, depending on type, quality, rareness, etc. The most common complaint/observation I've seen is folks that don't understand that there will be a seam. It may be undectable to the touch but it will be there nonetheless. The more textured and random the wrap is, the more likely it is to be visible.