Try the JB Weld and see if you can sand it down smooth and to the correct shape. Cant really get much worse than they are now. Powder coating will not help you fill in the pitting, it is very thin stuff. After many layers of PC you can build up a surface, so i suppose you could mask off the good areas and PC the bad spots a bunch of times to see if you get any thickness then feather the edges. Not sure if that would work in reality but it does in my brain. If you do PC anything on swivels BAKE FIRST! to cook out all the crap. I did not to this thinking i would end up with a shinny swivel out of the oven, only to find all the sneaky oil you cant see or clean works its way out and all over your powder. Oh and take out your RALCO bushing (learned hard way) I had very minor pitting on my swivels on top and bottom outside the working area. Filled and sanded with JB then powder coated and they still look real nice. Gators would not be a bad idea after if you do PC, i can see a rock chip ruining a lot of work.
1970 Series IIA 109 EX-MOD
1971 Series IIA 109 EX-MOD
1982 Mercedes 300TD
1989 RRC
1993 D110
1994 RRC LWB
1995 RRC SWB Brooklands Edition
1995 RRC LWB
1995 RRC LWB
1995 Disco
1996 GMC 2500 Suburban
1996 Disco
1997 Disco
2001 RR P38
2005 LR3 HSE
2006 RR HSE