4x4 frame question

[57taskforce]

I've been searching for a k frame, preferably a k/20 for a while now. I've possibly got a chance to get this 71 k/20 frame for free. Look close at the pic right behind the cross member for the catch.


As long as the other side isn't bent bad, I'm debating on fixing it. I can weld just fine, have 2 years of vocational schooling for it. Here's my thought and please tell me I'm an idiot if I deserve it, I probably won't deny it! I was thinking Id bevel the edges of the break, weld it up, grind it smooth then plate it on both sides with at least 1/4" probably 4-5 inches on both sides of the break. Debating on drilling a few holes and bolting it all together with big grade 8s.(still pondering the latter) am I crazy for even considering this repair? I figure if nothing else I could cut the hangers off for possible future use and still be ahead if I didn't end up using he frame.