I would agree that bending the rods higher up would look more in line with the original design... and cutting them to fit is also a good idea...You may want to find some brake or fuel line and mock up the bend first to get it where it is aesthetically pleasing. Also a piece of wood sabre sawed to fit the bend you make may be a good idea to use to bend the rods against, or at least as a buck to check your bend. You could get real fancy like and router a groove in it for the rods, then use a deadblow hammer to form the rod to fit it. If you are enterprising, you could probably use a form like that to reproduce truss rods from plain old rod stock bought at the steel yard.
As far as a light would go, there is a guy on Ebay selling a Chinese knockoff of the basic design used back then that might be your best bet, once you add some patina. Delta Winners were used around then on Columbias but I don't know what the CWC used....but OG lights are spendy nowadays, unless you get a much later light like the Delta Wren and some other smaller units.
Nice work so far, looking forward to the finished product.