You're over thinking it to some degree. I know it's nice to get back to original OEM, but it's not necessary, and you'll face the same problems over and over.
Use 1/2-3/4 plate, drill holes in the pieces to match a new pin, then weld the pieces of plate over the old holes.
To get better wear, switch to a cold rolled pin if it's a hardened pin in there now. Cold roll will wear to some degree where a hardened pin won't. It keeps your new holes from wearing too fast (easy to replace a pin a couple of times to one replacement of the cover plates). It's not necessary to have an exact match on the pin dia. wise, actually a bigger dia pin would wear slower.
Instead of stressing about finding exact center on the wallowed out holes, just use a full length pin (top to bottom) for alignment when attaching the cover plates, then cut the pin to the lengths you need for the final assembly. This way you're determining a new center, without all the headache. If aligned in this manner it will pivot properly.
Weld the cover plates so that the only welded sides are easily accessible for grinding off at a later date when you have to replace them. If it's not easily accessible, don't weld them all the way around. Maybe only on two sides. Doesn't take much weld to hold these in place.
Just hog out the existing holes to accept the new pin without any interference when you put the new plates on.
I know a lot of people think you need hardened pins for something like this. My thinking always has been that I'd rather the pin wear than the hole it's in. Cold roll will be MORE than adequate for the job at hand.
While sleeving will work, it's a PITA to remove the sleeves the next time you have to do this. Easier to grind off a cover plate every few years. AND a sleeve will have to have either a full penetration weld around the perimeter, or fillets on both sides of the sleeve if it's allowed to protrude through the plate where the hole is. There's clearance issues.