I took advantage of a cool spell here and spent the night doing a little primitive camping on the back of my place last night. Enjoyed a nice fire and came back to the house with a clear head and a better attitude! I see some great thoughts, ideas and suggestions and comments were posted while I was out.
TOF - I would take you up on the offer of a couple of each size of those rods. If I don't end up using them for this repair I would definitely try them on another project. You should have my home address but if you can't find it shoot me an email.
Davec2 - thanks for your thoughts and the info concerning a clean space for wire inlay when doing color case. That shouldn't be a problem but after reading that I will always double check before hammering in any wire. I will likely try your #1 suggestion for the "ding" before I go the welding route.
FlintFan - you are probably correct, what I saw was likely platinum. I probably have enough gold on hand to do a couple if bands and will use that if I decide to do an inlay.
Snapper - very good point, it should blend right in.
Rolf - Good info to know! I will avoid using silver!
Not English - I have a Mig welder and have some of both size wires you mention. I hadn't thought of using Mig wire and will keep that in mind.
After returning from my overnight camp with a clear head I took another look at the damage behind the nipple and decided to see if I could move some of that metal back in place. First I used a section of steel rod that fit the area (I held it in place with my fingers but needed one hand to hold the camera):
And a slightly smaller screwdriver shaft for more control on the curve:
Then a slightly rounded punch:
And a graver handle to flatten the plug face again:
It now looks considerably better, I think I a little careful file work will take care of the rest.
Thanks for the help,
Curtis