If it is slightly bent, either fix will work without compromising anything. How far out is it? Is it the axle or the flange that is bent? If it is out very far, remachining the face will work but your studs will be slightly crooked.
Originally Posted by wave_crusher
You can, but you'd be taking away from the structural integrity of the shaft end. It'll probably break next time instead of bend
This is a way over the top statement, especially when you don't know how bad it is bent. The OP says he has been driving it a long time but his brake pads rub. The only time bending something back impacts the integrity is if you are stretching the material to the point where you are starting to fatigue it. This DOES NOT happen in one bend.