Give the guys at SHP a call. Granted they are in SC, but even with shipping I can't see nearly $1000 in a new rod.
That said, if there are still a few good threads in the rod why not have them chamfer the end of the rod around the hole, and then install a stud into the threaded hole. With the chamfer there would then be room to put a good weld bead around the stud to insure it stays in place. Many rods are initially turned with a male thread on the end -vs- using a bolt so it's a well proven design. They may, or may not need to countersink the piston to make room for the nut, but with the stud both threaded (even a little bit) and welded into the rod, I don't think it would ever gove you anymore problems...if it can be done that way.
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