The carbon steel of the FEL frame and bucket shouldn't be too much affected by the heat. It can be heated to 1300F and cooled without any adverse affects like other alloys. I doubt it would be much cheaper than buying a new one though even if the scrap was free. After replacing all the cylinders, hoses and putting on a decent paint job I would bet the cost would be similar to a new one. Buying the individual parts might be more akin to buying a car by buying all the body parts separately