Here's the full queen and the space between the foot of the bed and the wall. It diminishes when the bedding and comforter are on:
So we looked at eHow and watched some YouTube videos and borrowed an electric knife from some friends and set off to cut this baby down.
After unzipping the mattress cover I had to cut away a muslin cover, then under that was another cover with a zipper. Under that was finally the foam!
Some measuring and marking (a nice long straight edge like a leftover from a bathroom remodel project is helpful here), then we got to pull out the knife. It cut like buttah.
Finished product: 5 extra inches of space! And the bonus should be that the sheets and blankets stay tucked in at the foot of the bed since it doesn't extend beyond the platform anymore. We will see if Kevin regrets the decision or not!