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I can't help with the idea of welding... but I have drilled out several broken bolts and installed helicoils. With a good bit it goes pretty quickly. I didn't use a jig so some of my holes were a little off but no big problem. I installed stainless steel studs with bronze nuts so the next time it will be a breeze.
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Grant
Arctic Silver 2000 Boxster S - bought with a broken engine, back on the road with the engine replaced
Green 2000 Boxster 5-speed and 1978 928 auto
1987 924S 5-speed (Sold) - Blue 2000 Boxster 5 spd (Sold)
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