Not having a set of Huck spindles and steering arms to look at, wouldn't a simpler approach be to drill out the holes to 1/2". I'd be surprised if there wasn't enough meat in those areas to allow that without substantially weakening the parts, especially the spindles. If the steering arms were a concern, a pair of '51 or later steering arms would solve that issue. Your plan would work, but is quite a bit more work. Are you sure the additional thickness and the farther outboard position of the bolt heads won't interfere with the brake hardware?