Hahaha! I have met lots of bad people in my day, but I've never heard of Bad Bob. I have always heard that the welded M1s came from Southern California, long the HQ of FedOrd.
My very first M1was a welded rifle, s/n 1165621, should you ever come across it. My dad bought it in San Diego in about 1963 for $85. I remember the wood was all new and smelled great! The finish on the metal was black, done to hide the welding I suppose. It looked new, but the barrel was worn out, as it was never too accurate. I eventually replaced the barrel in about 1971 or 1972. I must have fired over 1000 rounds through it in total, and decided to have it refinished in about 1976 or 1977, which is when I found out that it was a welded up receiver. Oops! The gunsmith doing the refinish wound up doing a black-blued finish, but I never fired it again and sold it soon after at a gun show for about $200. It's probably still in northern California somewhere.
Over the years, I have owned many M1s, and worked on many others for friends. But, I have never again owned or worked on a welded receiver. Simply not worth the potential risk of a failure. Now, I don't really believe the old wive's tale that they blow up or explode, but I do know they will crack, and who knows what that may lead to. I don't wish to find out.