Tom,
The only reason to rechamber to .45-110 is if you are stuck on using black powder. And even then, the twist will be wrong. When the .45/90 and .45/110 were invented, the only way to increase ballistics, was to use more powder and decrease bullet weight. Thus they were originally loaded with lighter bullets, sometimes as light as 300 grs.
With smokeless powder, one can load a modern action past the pressure limits of the rifle, or until one cannot stand the recoil, Whichever comes first.
A good strong action can come unbelievably close to the .458 Win Mag ballistics. And I can tell you now, that is more recoil than I can handle on a steady basis. YMMV.
A .45/70 with smokeless will easily exceed what a .45/110 with black is capable of. Trust me on this; loading a .45/110 with huge charges of smokeless, is someplace you don't want to go...
