My .02 in this issue.
I had handlebar switches installed in my Sanglas bike. When I fitted the mirrors I found out that what seemed to be good thread were indeed ruined- the mirror locknut will snap with the slightest torque.
So I found myself in your same dichotomy: buy new switches or helicoil. Sure, there are plenty of switches out there but I would have to remove the handlebar and reroute the wires, while helicoil is just a matter of five minutes.
I could buy used switches and find out that the threads were bad too, and after all, didn't we enjoy these challenges? replacing is the easy thing to do, restoring and repairing is what it all about.
Contrary to the opinions here, I think a helicoils would work perfectly on the banjo bolt of the brake caliper. Why? because the sealing is done at the crush washer, and even when you need to drill to a bigger size, it is not that big of a difference. And even if it is, you can always use a bigger washer of the same diameter (10mm), as you don't replace that banjo bolt often.
So you opted for replacing. Guess what did I opt for... :-)