Welding and Metalworking - freeze damaged steel column repair

I have two steel 3X3X 8Ft columns holding up a wooden deck. Recently I noticed some damage to both columns which I suspect is from freezing. These posts have been in place since 1996 and did not originally have weep holes. As time went on they filled with water and at some point I suspect the frozen water bulged & cracked the column. Each column has one slit and three bulged sides near the damage.

My plan is to support the deck with some wooden 4X4's and remove the columns and repair. I plan to clean and bevel the slits then arc weld them closed and of course drill some larger drain holes..

My question to the forum is will it be worth trying to push the bulging steel sides back in before I weld the slits? I have a 12 ton press that I could use to squeeze the column sides. I'm not sure if this will weaken the column or cause more damage.

Unfortunately this site is not letting me post a picture along with this message. In this case a picture is worth a thousand words.
c:\pictures\column_dam.jpg

Thanks for your support

Straighter is better, even by weakening the metal.

Remember these columns only fail if they fold. In theory you can balance a small house on a single 4x4 wood post if you can keep the lumber from deflecting.