I think I see what your trying to do, but your wording makes it very ambiguous.
I gather what you really are trying to do is just save space by converting images that have been read at some RAW format (2352 or greater bytes/sector) and reduce them to normal "ISO" 2048 bytes/sector.
If this is what you mean, then you are totally correct, you can do so - providing that the image is not special (ie: protected, twin sectors, etc) in any way.
The extra data would all be regenerated during a standard Mode1 burn, again, providing the original disc the image was read from was also a plain CD-ROM in Mode1.
If you are not absoutely sure, an easy way would be to just burn the RAW image (to a vitual drive for speed) and then re-read it as a .ROM/.ISO file to ensure you don't screw up.
As you surmised, all header, EDC/ECC and subchannel data is reconstructed when a Mode1 CD-ROM is burnt.
FYI: Your use of the word regenerate is probably what mislead Spath. If you remove such information from the source image, it is impossible to regenerate it if it deviates in any way from what a standard CD-ROM Mode1 image would.