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i dont see what it would hurt to have an experienced welder run a tiny bead there?
make sure they're clean of paint and ready to weld, and your bill will be cheaper.
if you could find a cheap used arm, that might be the way to go?
kin of a toss up?
Used ones are CHEEEEEEEEEP. Probably cheeeeeeeeper than getting it welded, and FOR SURE cheeeeeeeeeper than buying whatever the car hits when the weld breaks.
They're the same as for some other vehicles; not sure what; but whatever it is, there's LOTS of em. Might be S trucks, G bodies, etc., I'm not sure. Something with shocks instead of struts.
Just go get a pair of other ones and throw those away. Or at least, the one.
to answer your question, if someone was to properly fill that cut with weld and carefully grind the weld down (or machine it) to keep the bushing hole true then you would never see an issue. the weld would be just as strong as the rest of the metal if not stronger, its thin metal that has a thin cut completely through the metal which would allow even a 110 mig welder to get complete penetration and fusion.
the other side of the coin is that they are incredibly cheap and common that its pretty much not worth it to put the time into them.