I would replace this arm, if my budget allowed for it. The tweak in the arm is enough to negatively impact your alignment angle adjustability, and I am not especially fond of bending old steel back and forth a lot. If replacement is not an option, the recommended reinforcement plan is a good one. Best of luck on that. As far as the idea of using longer LCA's on your car; this would be very trick for autocrossing, as it would ncrease front track width, and also allow for dialling in more negative camber (excellent for turning corners). Use of a spherical-end strut rod would almost seem mandatory, pulling it another 1/2" out like that.