In theory I don't think it should matter if the pin is attached to the stop or the body, as long as the stop slides freely.
For the mounting bracket if you drill out the rivets, is there room between the guard and the wheel to allow bolting the bracket back on? If that works then drill the new support bracket to match the holes in the guard and carry on.
So far so good.
I've been considering removing the mounting bracket and replacing it but the amount of lateral flex in the guard has me concerned, it's pretty flimsy. That factory mounting bracket is held by a single rivet BTB. How solid laterally is your setup?