Do they make them differently in the first place, other than bending them into shape? I'm thinking that's how ell handles are made, so it shouldn't be weaker than those.Any industrial fab/sheet metal shop could just toss it in the power break and easily do that... though it might result in a weaker part....
Go to the back of you vehicle stick it in the hole for the hitch pin and bend it, I've done it with an old SO I had in an extra box to get the last spark plug of of an S-10 only I bent it at more of a 45 degree angle.
By definition, the torque is unaffected, however your ability to transmit impact or a torque spike is reduced. Breakers, ratchets, etc are pretty bendy metal....but seems to be flexing more than a solid handle (or the angle keeps dropping as extensions are added, and I don't think as much torque is transmitted that way).