Thank you for this info! Very helpful.It can correct to some extent because it usually comes from the shoulders. My girl is easty-westy and it is her conformation in her shoulders, verified by a PT. The shoulders pull the elbows in and push the feet out. I would not count on it correcting itself. There are exercises you can do to help it and loosen the shoulders with stretching exercises and you can help the pasterns with targeting exercises as well.
I've heard that when the dog's chest deepens in maturity, it will correct to some extent. Mild cases appear to correct to 100%.
It is considered a fault by the SV. it is not disqualifying. My girl has a G rating in her young dog class.
Throwing a dog out of a breeding program for a fault that does not affect health, working ability or temperament is not intelligent breeding. Is it a desirable trait? No. But I wouldn't throw the dog out because of it if the dog was bringing other traits.
As far as showing - if you have a WGSL, they won't do well in an AKC ring. An ASL won't do well in an SV ring. You might try UKC. that seems to be a fairer, less biased, circuit.