journeymen,
I don't think the "problem" is as devastating as you seem to think it is. I would be hesitant to do any welding to "correct" it. If it were mine and I was concerned about it, I would concentrate on the wear of the hinge "pin" and/or the underlever "pin". You could check to see if this would help matters by making up simple straight pins a couple "thousandths" larger, before making up new screws and or reaming the holes "round". You should be able to use it the rest of your life with 12,000 psi loads normally and 18,000 psi loads only for hunting.
Mike