Some feedback:
There is no doubt that the stem is definitely aluminum.
So, yesterday afternoon, I decided to make a new stem, that will fit into the 450's triple clamps, but accept the 650's bearings, using a 40mm thick EN8 steel shaft that I have. I started measuring and drawing and then it hit me, I can't make the stem like I was planning to do, or even turn down the original, without also turning down both threaded parts at the top, and make smaller nuts for them. The threaded parts have to be slightly smaller in diameter for the bearings to be able to go over them, without damaging the threads. This means that the complete stem basically has to be turned down substantially, except for the bottom end, which is pressed into the bottom clamp.
Although solid steel would probably be strong enough, the whole thing just becomes too thin for my liking, particularly the bottom part where the OD would differ from 26mm to 31mm.
So, I just went ahead and ordered the conversion bearing kit, which set me back R2560.00 in our money!!!
Anyhow, I learned a lot from this exercise. While measuring the stem, I clearly noticed that all the larger shoulders had a 45 deg angle, plus a radius, while the smaller ones only had the radius.
I'm sure that making a new stem won't be very difficult, but in this case, I'd prefer the bearings. More so, because the original stem is hollow.
Thanks again to all for your expert advice and help, I'm much wiser now, than before.