Chaplin> Random question, is it possible to call delete on a modified pointer like this?

A better question is "how does delete/free() know how much memory to free when being called with a pointer?"
Think about it.

...A pretty common implementation is to also allocate some space just before the pointer, and there store the size of memory being allocated. That way, when delete or free() is being called they just move back and find the size of the chunk to free.

And to furthermore answer your question; no, it isn't.