Only you can be the judge. Do you have the time and the skill to grind off the goobered up mess and fix it. Or would it be easier, faster for you to scrap that junk and start with new? If you can save it with your skills then that would be the best route to take. Just because it is an original part doesn't mean it is worth keeping or fixing. I have some goobered up steering knuckles....
that I goobered up. I thnk they are cast metal but I'm sure somewhere for some price I could have found a welder/machinist that could have saved them. I just figured that the replaement cost (NOS) was cheaper than the repair...and a lot faster.
Never work on your jeep as if it were an investment or you will surely get burned. You have to buy very low and sell high. If it costs you high you will break even at most or go broke trying to unload the jeep when you "need" too.
Good luck which ever way you go.