I would suggest you do not have it welded and retapped, the welding makes the aluminum soft and you will still have to fit a insert to make the threads strong enough again. I do lots of this kind of repairs for motorbike shops even fitting a 5 mm helicoil can be a problem, you have to break the tab off once installed and if its done wrong and the insert bends as it breaks off then the bolt will jam in the threads. I never have a problem with larger inserts 8mm plus, the better inserts are the timesert http://www.timesert.com/html/mtrcsert.html its a solid inset and not like a spring made from a strong alloy. Chris.