Cat Thirty Brake woes

Hello all: 

  We have a very well used narrow gauge 30 and have no brake adjustment left. We thought the lining was gone and it is still fairly thick. The problem seems to be due to excessive backlash (slop) in the connection between the brake cam and the end of the band. The part that is connected to the band has a hole where the pin goes through that is very worn and wallowed out. The pin is also severely worn. The plan is to make a new pin from 4140.  The challenge is what to do about the part that fastens to the band. To bore the hole straight and round again and add a bushing would not  leave much meat around it. Shall we bore and rebush the old part, cut off the worn part and weld a new end to it, or make a new end? Any thoughts would be greatly appreciated.      

If it were me, I'd cut that off and weld a new one on - it's probably the least effort especially if you find a steel bushing that's already the right ID. Worn linkages make adjusting anything difficult. After I replaced the links and pins on my D2 clutch, the lever throw reduced signicantly, it was easy to adjust, and it stayed adjusted. Also a nice crisp action