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All of the rust showing on your car is repairable. I recently had nearly the same work done on a '61 220Sb. I can send some pictures to you of the repairs in progress so you can see what is involved. Basically you need to find a good metal guy and make sure that all the rust is either treated or cut out. The surface rust in the trunk can be treated with Ospho (available at paint suppliers). It will kill the rust and turn everything black. It's also a good idea to put some in a garden sprayer when the car is apart and get it into the areas that you can't see. Just make sure that the floor is covered because it will eat concrete; and wear a mask. The rust showing on the front of the frame rail is very common. You can either cut it out or treat it with Ospho depending on how bad it is.
Another thing to do is to look at the parts book or EPC net to see how the car went together and what parts are available. You may want to replace the rockers rather than repairing them, for instance, depending on the extent of the damage. Here are a few pix of before and after on the left front fender on my car:
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