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good used ones can be bought for from 75 to 200ea.
the patch idea is good in theory but that arm is a sealed unit. for it to rust out like that means there must be a hole somewhere else you cannot see, imho. the metal is surprisingly thin too, so a weld would be tricky to do.
otoh if the arm is not sagging it may be fine for a good while. but i think i would find a good used arm and have it on hand for when it is needed. i have paid about 200 labor, i thin,k to get them done at my indie.
good luck
tom w
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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.  [SIGPIC]
..I also have a 427 Cobra replica with an aluminum chassis.
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