<VV> crank main seal oil leak

[Gary & Susan Lowell]

I just dropped the power-train (Weber Carburetor, port & polished . 
030 over - 4 speed) out of my 65 Corsa convertible street car because  
there was an annoying oil leak from the bell-housing. When I pulled  
off the bell-housing (after splitting off the trans/diff) I found a  
small (about .020 wide) flat spot parallel to the crank axis on the  
crank main sealing surface - the one that the flywheel bolts to and  
the "rear" main seal seals against).  It has been suggested to me  
rather than tearing-down the engine to repair (weld/regrind) or  
replace the whole crank end (press fit a new piece), I should  
consider putting a cylindrical sleeve over the existing piece and use  
Locktite to 1. hold it in place and 2. to fill the flat-to-inside-of- 
new-cylindrical-sleeve void to prevent further oil leakage.
I have never heard of this. Has anyone either tried this (and if so- 
how did it work) or even heard of this solution.
Thanks
Gary
Detroit