It's worth remembering that Calcium (the substance bones are made of) is, in fact, a metal [1]. And our bodies have no problem growing and repairing our bones. Why wouldn't that happen with steel?
Also- the bit about the stresses that a titanium alloy bone would experience in its lifetime- yeah, that, probably. We probably have bones as tough as they need to be, or _needed_ to be in the last million or so years.
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[1] A factoid that my 16 year-old self, obsessed with Metal (the music) found deeply satisfying. "Dude, my bones are made of METAL".