I picked up a set of Mahle wheels only to find out 4 out of the 5 are bad. Two look like they are just barely bent and the other two will become scrap aluminum. Since they wheels were cast and not forged can they be straighten? If so what are chances they can be done right? I am thinking with the cost of restoration and repair are NOT cost effective.

Has any one done this ? Thoughts ?

I would contact Harvey Wiedman.
And I am pretty sure Mahle wheels are magnesium.

5 lug Mahles are magnesium, 4 lug are aluminum. If they're 5 lug & made of aluminum they're not real Mahles.

If possible to straighten them it's probably cheaper and safer to just buy another set since they regularly go for around $100 a wheel.
If you're talking 5 lug, that's a whole different story as I've seen them go for $500 per wheel.

My bad, they are 4 lug Mahle wheels so they are aluminum. The problem with buying more is the fact that they are probably going to bent too.

4 lug Mahles are soft aluminum for some reason , I had 8 and 6 were bent, I am sure they can be trued, They are not the most Stout wheel for sure..