I have the same dilema on a spare tank I got (from a member here for dirt cheap) that has 2 fairly moderate dings on the LH side. One in front of the where the badge fits and one just above the front of the badge about half way up to where the bung in located. I plan to employ a bit of direct heat (MAP gas torch) for about 2 inches round each dent then instantly apply some dry ice.....may take several trys but I think it'll work out pretty well.....
I'll let you knw how it turns out & plan to post pics here too....
Ya might give it a try....but I'd take all the old paint off first too.....
