Steve-
Most codes and standards have a design margin. This margin is built in to the designs in order to account for the simple fact that as engineers we cannot know and account for everything about a particular design (we leave that to the physicists and other scientists!).
When you infringe on the design margin, you are out of compliance with the standard and thus exposed. To what extent you are exposed is going to be a function of individual circumstance and perspective. You will have to apply your engineering judgment to determine whether or not you are comfortable exceeding pressure temperature ratings for a given component.
For what its worth, I routinely do just that. Much of my business is related to dealing with equipment and piping which has degraded beyond its design intent. So I'm not saying it cannot be done, just that one should be careful and assess the situation (in my case I lean on API 579-1 / ASME FFS-1 and ASME PCC-2 to provide me with decision making criteria).
Specific to your case, my I have two suggestions:
1) Heck no! From the perspective of an owner/user who is purchasing the equipment and expects the engineering to be proper. I paid good money for you to engineer it right, I expect to get what I paid for.
2) Consider the consequence of a loss of containment. If acceptable, put a good gasket in and torque the flanges carefully and monitor periodically for leakage. From the perspective of an owner/user who has already procured said flange pair and is facing a decision based on cost of strict code compliance vs. lost profit opportunity as well as potential cost of a loss of containment - not only in money but far more importantly in lives, significant injuries, environmental damage, negative media exposure, employee morale, etc.
Finally, keep in mind that the decisions you make are yours alone. The advice you receive here, or on any other internet forum, is worth exactly as much as you paid for it.