Helicoil is good. Another option is to find another oil pan. 05's & up use a different oil pan than earlier models. No need to rush, I rode over 10,000 miles with only 2 screws & never lost a drop of oil. Never used a torque wrench on those sense, just finger tight with a small allen wrench. You might even get lucky by running a tap through it. Mine got stripped cause someone installed a short screw. The skid plate screw fits but is shorter.
heli-coil the best, next best; re-tap if you have enough material, back in the day before i knew better i stripped a few out aluminum blocks, heads etc...and re-tapped with a "slightly" larger tap and bolt. But you have to have plenty of meat to do that. Like Bluebayou said..better on a bench.
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