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Either way, looks like you are going to be welding and grinding. I guess if I were doing it, I would try to get a dolly inside the cowl, and try to hammer everything flat and straight. Then weld up the puller holes. If thats not doable then section it out and weld your donor piece in. I would try those two approaches first, and if I didnt like how it was going, I would use the last resort and replace the whole piece. This is just how I would do it. I think you can definitely section it and make it look good. On the other hand would it be benificial to open the cowl up to get to any other areas that need attention?

I would try to work it and weld up the holes. If you start welding in sections, you run the risk of the welded seams coming back to haunt you at a later date. And if too much heat is applied you could end up with worse warpage than you have now. That can definitely be massaged back into shape.