Cutting rear wheel bows (74 Dart Custom)

Hi
I currently have two problems on my Dart. The rear tires are too wide and are scrathing the inside of the wheel bows in sharp turns (yes I have already grinded away the fold on the back side). Problem number two is that my front suspension needs adjustment and none of the workshops around have the old style equipment, and the new ones don't fit the car because the wheel bow is blocking some of the rear wheels.

I was thinking, that making the rear wheel bows clear the wheels like the do on most cars would fix both my problems (also i have pretty bad rust in them that i need to take care of anyway so cutting would actually be easier than repearing)

Has anyone here done it? Do anyone have any pro's or con's I don't think about? Does anyone have pics of cars where it has been done?

So far it looks like just copying the shape of the front one would look fine without too much adjustmens

thanks