Can't see why its not possible. A decent enginnering shop should be able to do it for you. I had my volvo head done by a friend who runs an engine reconditioners.
It depends on how much you need taking of the face. What made it blow. How bad is it. Will it take the compression over the top. I doubt it. When refitting check/adjust the valve clearences etc.
If I remember correctly the MD1B head has a lip on it !
should imagine it would make the skimming awkward.
If you should have the head skimmed you will need to reshim at the bottom of the
cylinder block to get the correct clearances.
i maybe wrong, but reading the posts could this be the same engine as the petter?
if it is, you can lap the cylinder head to the pot, by using grinding paste. the shims at the top (head gasket) come in different sizes, measured by the bumping clearance (not important yet) but just lapping won't make a big difference.
if it's too pitted you can mill the outer edge, any engineering shop (you need a pet one) can do this.. for a contribution to the tea fund.
There should be a machine shop close to you who'll do it - ask around the garage workshops, it's a simple job once studs etc have been removed, and far cheaper than a replacement 2nd hand one (unless you're unbelievably lucky).
Bye-the-bye, it's quite commonplace to skim alloy heads though they usually distort too much for that to be an effective cure.
i have an md3 and had to have a head skimmed cost £80, this is the same head as an md1, by the waydont even think of buying a new head, i was quoted £560 plus vat, when i quiried this extortionat amount, the answers was" they have them and you dont, so they(volvo) can charge what they like. the next time i have a big problem the volvo goes, i am not going to keep paying there rip off prices.