I'd be cutting out that crumple zone in the frame and replacing it with some tubing. You have a lot of weight hanging off the front of that frame and it was only supposed to support a bumper. Plus it just looks like shit, and I wouldn't trust Ford engineering for shit.
I thought about that along time ago. But I had a "structure guy" run some numbers on it. He said that it is actually stronger in certain ways. He said you will never collapse that slinky unless your in a terrible front end collision. If you did collapse it, you would have allready bent a straight frame. In this case, I have two additional tubes that "triangulate" the front bumper. I have zero fear of it bending under normal conditions. As far as high speed frontal impact, indeed, I have defeated the purpose of the corrugation.