Wow, complicated question. First, is it a show gun, a beater, or a gun you plan on turning into a beater? That changes how we do things. If it's already beat up, a little work with a dremmel tool and some sanding and polishing disks will do the trick. If you'd like the keep the gun looking good, you might want to take it to a gunsmith and ask him to dehorn that area. You might have to refinish it if it's a blued gun. On the stainless, you might get the polish job to match good enough in the relatively concealed area we are talking about.
Now for the REAL solution. Buy yourself a pair of Pachmeyer grips. These cover that area and have enough rubber to absorb some pretty stout loads. If you don't like rubber, go with any number of other manufacturers grips. Avoid the Hogue ones as these make the SBH look HUGE. Good luck.
