If welding on a steering shaft isn't illegal, it should be. It's slightly safer to do a sleeve and rivet coupling, or something similar, but I've seen some real disasters on the dirt track from welded steering worm shafts. If a part from a later-model steering column with the double-D-shaped tube could be fabricated, that would be the best possible fix. Trusting a simple butt weld with steering duties is a little bit foolhardy.
Jerry