Has anyone here ever had a request to resize a piece of furniture or just decided you made it too big and reduced it?

My wife is not happy with the size of our coffee table after having it for about 4 years. She wants something smaller since we have moved furniture around and introduced some new furniture into the living room.

I do not particularly want to go about creating anything new, or purchasing the wood to do so. Currently the table is mortise and tennon joined. It has a top that was screwed on from below and a shelf on the bottom that was attached in the corners via a slot in the leg.

I am thinking of:
  1. Removing the top
  2. Cutting the tennons and shelf off as close to the legs as possible
  3. resizing everything down to the size she determines is "right"
  4. reassembling
  5. Refinishing


Are there any gotchas or things I need to consider?