not to be a party pooper, but i am seeing at least 3 bent pieces...
both top and bottom channel irons, and the jack crank pipe. that vertical channel that the crank pipe attaches to might be bent as well.
whatever the outcome, i'll bet 50 cents that the lid needs to be taken off that jack and some 3in1 or such poured on the screw.
for two cents i would tell you to just put two come alongs, one to each side of the reach ahead of the angle iron brace, and pull it back plumb. then see what you have and whether or not it works. taking a run at it with a tractor/etc is bad news/impending compound disaster. i would want to maintain control of the process... with something like a 3/4 ton chain come alongone, one click at at time. using two you can also maintain the plumb/square relationship of the jack on the side to side axis. you are going to need the rigging whether you use heat or not. you might want to take the crank pipe off before you start the process, then straighten it to fit afterwards.
If you have a loader with chain hoooks you could try tilting foward with the the loader hook chains on to channel than tilt back w the machine. Trailer will have to be hooked to truck of coarse. I straighten a lot of stuff like that. Its the easiest way without lugging tools around so I always go that route first.
Someone mentioned using a power pole as an anchor point. That is a very bad idea. Power poles almost always are owned by an electrical utility and if you want to use one as an anchor point, you better own it.
A power pole can be internally rotted and still look good on the outside but apply an external force and it can easily go over; people could be injured or killed and property could be damaged. Depending on circumstances, you might also get hit with the liability and it will likely cost you lawyer fees to fight that and even then you might not win..with all the "good stuff" that would entail.
If it seems weak or is just an eyesore to you I have to agree with ridger, slice it off and replace with a new piece of channel or reinforce the bend already there to prevent any more damage . The original strenth will never return anyway by bending back. Reinforcement can sometimes be made to look almost invisable while making the whole thing stronger.
56FordGuy, once you get the C-Channel back inline, and if you feel it is weaker, you can always add a piece of say 3/8-inch x 2-inch flatbar on the backside. Place the flatbar with the 3/8-inch side against the web of the C-Channel, and skip weld both sides of the flatbar. No need to weld solid!
I think a 10 ton Blackhawk portapower would be the trick. Anchor point is the problem but someone else mentioned a curb. Hitch the trailer up to the truck, back it over a curb, put the porta power on the curb and push it out.