Treedweller wrote:

But, in the case of a small tree like this, I prefer to remove one
branch (the smaller, most likely). I think doing it in two stages, as
suggested earlier, is a good idea.

As for the deflection in the trunk, don't worry about it. It won't go
away, exactly, but when the trunk is 12" or 24" in diameter, such a
small aberration will be vitually unnoticeable. At worst, it will add
character to the tree in its old age.

Thanks to everyone that responded. Won't the deflection spot eventually
grow up with the trunk until it's somewhere overhead?