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So it's simply cut the welds off and bolt new one on. I take it ill have to drill some holes to bolt on panel
I didn't say its simple, "extensive". There are a gazzillion welds in that small panel and yes you will have to match up the S panel and drill holes for the new one. Probably worth filling the weld holes you drilled also and paint to prevent corrosion.
Swapping a late panel on a late car takes about an hour. If you do it right you will spend close to 10hrs fitting a late panel to an early car.