Nightmare!
I have seen where people weld cast iron ways plus I spray welded a Hardened W&S Turret Lathe square way. Ways, especially old oil soaked worn and galled ones. I have brazed gibs by extending the wide end to lengthen it, then milling it. That worked ok, but the gib was thin and was not scored. When a gibs were scored we made or bought new ones.
Never saw a scientific study on this though, have you?
The ways I saw arch welded were on Big 12" wide Boring machines like G&L', Lucas, etc. I was once called to look at a G&L 3M had, They had another rebuilder weld the scores (arc) and it was peeling up because I assumed the oil soaked ways and heat suck (drain)could not be welded and as the saddle ran over the peeling weld, it would jam up the machine. I told them to get the other guy to fix it as I Saw a Nightmare trying to fix that mess. I have no clue if it was fixed or scrapped. (Scrapped to the junkyard, not scraped) The only cure I could see was to have the bed planned, bronze wear-strips, etc. Costing 3M thousands of dollars again.
I had a spray welder salesman convince me I could spray weld ways to fill worn area's. I had a company call me saying their W&S number 5 Turret Lathe front box way was worn up near the chuck and when the used a spade drill to drill a hole the saddle would move over.
I invited the salesman to come and show me how it worked and we bought the unit that we attached to our acetylene torch. The issue we had was the machine was huge casting and it sucked the heat away from the heated area. He kept having us pre-heat the area with a rose-bud and after it got cherry red we switched the torch head to the sprayer. Then spray, most of the time it would peel off and we have to do it again. Talk about embarrassed as we were doing it inside the customers machine shop and they as I were getting scarred the machine would warp.
Then after it stuck it got rock hard and we had to drum sand (grind) the weld and it was a NIGHTMARE. I did not have a scientific study by the way, proving it was a Nightmare, just the experience that it was. I suppose a thin piece like a gib would be fine, but a large oil soaked casting that sucks the heat so fast it would be a nightmare and not stick for long.