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The stock oil pump drive shafts are not hardened. They are most likely O1 or W1 tool steel in normalized condition since they machine quite easily. Welding on one will certainly change the structure of the steel, depending on the type of steel it could end up with a hard spot or soft a spot at the weld.
The part number of the gear is C4AZ-12390-A. Rear counter shows Dennis Carpenter has 12 of them.
Also, the later model 300 I6's used Duraspark distributors. if you want to upgrade to electronic ignition this would be a good time to do it. The Duraspark will trigger about any ICU, I use the FBO Chrysler style box since it has a built-in rev limiter. But there are cheaper options, the stock Duraspark box, "lots of wire", even a GM 4 pin module. The GM module is certainly the cheapest but looks a little redneck unless you hide it somewhere.
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.