I think it makes sense for an portfolio-website. Now and then i change my posts, add new, delete old.. if someone bookmarked an post, that i gonna delete, they shouldn´t see an 404-error-page if they come back. I think in this case it´s nicer to redirect to the main-page.
Or do I overlook something bad here?
But yes, it´s not possible with your plugin, I found another one.
Regards