There are/were some videos kicking around of 3.9 on a 1000 (it had some RAM expansions, though). Twinkick project, maybe? Amiga Inc made them take it down. 
I have to agree with J-Golden that this is crazy. Why ask them to take it down when it could drive business for them?
Oh well there is nothing crazier than folk.
As for the question posed by the OP.
Like others on this thread I can't see why it can't be done. You just have to remember the memory constraints when using the Kick image. I have a couple of 1.3 disks, for my 600, I will test this on my 500 as well.
==edit== wait my 500 is dead..... Power is getting to it but it's not booting up. hmmmm oh well never mind.
