I shortened my Mossy500 by shortening the barrel and removing the stock and adding a pistol grip only. I can't hunt with it any more, I have rotator cuff damage so my sholder can't take it. I have taken it to the range and have found that for my HD use as planned, it is plenty accurate. And just recently i had to pull it out to investigate a "bump" outside the other night. I also added an LED light. The shortened barrel and the pistol grip made getting down the hall and out the back door, much easier.
i find the pistol grip makes for a more natural shooting stance with the shotgun. Just as many pistols are more naturally handled and aimed, so too with the shot gun. While I don't plan to use it single handed, it does make for a better handling HD shotgun in my opinion.
I didn't do it for the "cool" factor, as it is not something that I put on display.