WHATEVER YOU DO, DO NOT WELD THE CRANK, THATS THE STUPIDEST ADVICE EVER MENTIONED. If you weld it you will have to cut the timing cover apart to get the crank back out, and once you have done that and your cranks removed throw it in the trash because its no good. Your best bet is first try to find a tap and do that first, usually a fresh tap will center itself and fall right in line with the old threads. I wouldnt suggest drilling it because it is forged and is insanely hard. It will be very difficult to drill and retap even if you can find a suitable new bolt. If tapping doesnt work, Id recommend sucking it up and letting a machine shop do it right. HOW did it get stripped????