"Apply heat to straighten the stand and quench afterwards. The ovality can be repared by welding and re-drilling, some enlarge the hole (be very careful to keep the hole centres exactly as they were, and inline) and fit oversize bushes.
While you're doing the re-fettle, check the feet for abrasion wear, and consider applying some hardfacing to protect against future wear."
not very good information Jock
heat up with oxy/acet and straighten by all means, fill the worn part of the holes with rutile electrodes or MIG and retain the half circle of the unworn hole, carry out any other weld repairs, eg "unpeel" the feet and replace, repair cracks, oval or broken spring holes, foot tang to suit Jota Joe sidestand? extra mini gussets etc, polish off the excess on the surface of the two flanges, at the pivots, and then (using a mill) centre an 18mm cutter onto the circle of the unworn part of the hole and mill away, then deburr, if you can be bothered (not realy required, and I didn't on the half dozen I have reclaimed) heat the whole unit up in an oven and then cool it, by slowly dropping the temperature over several hours, but dont quench the hot metal. Hard facing on the feet is not a good plan at all, totally unnecessary and may cause more harm than the wear it will prevent, eg crystalisation, distortion, stopping the "roll/slide" on tarmac, the stock stand will last 150,000 miles and 40+ years without hard facing, a brush of grease on the pivots and spring ends, is a good thing at service time, but most dont do that.
I have done about six in recent years and they are all giving great service, the one on TOG was given to me by Coxy, yes I said given! that must surely tell you all how bad it was, and its now great, even powder coated, I don't have a stand tang at all, and that is not the best way to go, the next one I do for myself or even the one that's on the bike will get a very short straight tang ending in a ball., you only need about 50mm to make all the difference.