I want it done as a re-weld because:
1) I'm not content with having a Mutt rifle
You'll end up with 30% of the receiver replaced (they don't give you the middle bit -- and you can't have the 3rd axis pin hole drilled, so you'd have to replace that part anyway) and the fire control group replaced anyway. So, the only difference is going to be saving the original 1/3 of the front and 1/3 of the rear of the receiver shell itself.
Now, as to a "Mutt" rifle, you will have to follow 922(r) regardless, so you'll be replacing a number of parts anyway, just to remain in compliance. Keeping a re-weld version of the receiver would only mean you'd have to replace some other perfectly good part to stay legal. Doesn't make any sense.
2) I want to preserve the history
That's not possible. You're functionally changing the receiver, subjecting it to serious heat and warpage issues, and then will have to throw away six parts anyway. (
http://gunwiki.net/Gunwiki/BuildAkVerifyCompliance)
If you want to preserve the rifle in its pristine condition, you'll need to find a transferrable machine gun and pay dearly for it. Any semi-auto conversion you'll find is not a pristine piece of history.
I highly doubt it will make an inferior product if it is done right.
I have to give you the benefit of the doubt that you have some idea of how gunsmithing and metal fabrication is done, but the idea of re-welding a 1.0 mm thick sheet metal receiver shell, and restoring proper heat-treat, and grinding it all smooth again (I assume inside as well as outside?) and mounting new receiver rails and cross-member, and not having it warp all to uselessness ... well, that's going to be quite a trick.
And expensive. And then you'll just have to throw away some other bit 'cause you "saved" your receiver.
Or maybe you won't. By the time you've done that much work to it, you'll almost certainly be able to claim that it is "US made".
Seriously, though, this is not worth a gunsmith's time to even talk to you about it. All lose, no win.