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Yes, definitely possible. I do that all the time.

However, I have found that its a very difficult process.

1. It takes a long time to unload, particularly at bad terrain provinces.

2. Troops seem to suffer a penalty for making a seaborne assult....my impression anyway.

3. If the enemy have fleets nearby, it WILL attempt to intercept you. So far I haven't failed one attempt but I am not sure what will happen if the transport fleet is forced to retreat while the army is still in the process of being unloaded. Maybe I should deliberately lose a naval battle to find out......
 
2. Troops seem to suffer a penalty for making a seaborne assult....my impression anyway.

Correct, read my FAQ btw, it's in there.

So far I haven't failed one attempt but I am not sure what will happen if the transport fleet is forced to retreat while the army is still in the process of being unloaded.

I think unloading just gets halted.