pslsnakes:

Right on. I found an outfit an hour away from me that specializes in wheel finishing and chroming. But they also handle damage like this as long as the wheel is still true, which mine is, and not out-of-round.

They heat it, bend it back and weld it like you say, then re-finish it. The process will cost $200-$250. Considering that the new wheel cost $350, and is no longer made, I consider this a life-saver of a deal. Much better than the wallet-flatening alternative.

I do now have reservations about running low-profile tires out in the real world of public roads, as addressed by mdb20 above. Espically a +2 fitment like mine. By the way, in the meantime I've been running my old 16-inch pair in the front and they've been working fine.