If your shop there can straighten the shaft WITHOUT DAMAGING IT, then have them do so. As far as the bolt & stripped hole, have them bore & tap for the next size larger bolt. Do N O T weld on the shaft.
Use Caterpillar GREEN Cement INSTEAD of Locktite. With Locktite, even after it's "set" the bond can still be broken. With "Cat. Green", after it's "set" the bond is PERMANENT; The only thing that will get two parts apart that have been bonded with Cat. Green is a CUTTING TORCH. - I know, BTDT!
Doc (Sr. Underground Top Millwright / Mine Maint. Mechanic)