Are you asking about a parts switchover or actually reforming the loop you have?
I've seen posts on gunsmithing forums where they cut, re-bend and weld in a new piece. The new section and welds are then dressed up with grinders and files and sandpapers to match the section of the original loop. Lots of work but doable. And I'm thinking that it's very much the sort of work where if you have to ask the question then you likely don't have the tools or skill needed?
If you do but you're asking to find out any issues I do know that they didn't try to restore any heat treating. Just welded in the new metal that had been rough formed to the sort of section then began with the grinders and files. Once all dressed up they just cold blued the loop in the couple of threads I read. It's been a couple of years since I saw such threads so I don't recall if they used a tig welder or a mig welder. I do know it wasn't an oxy-acetylene torch although one COULD use that as well.