I've seen it before but not on a 202 chassis. I'd suspect that the car had spent a good portion of its life in a corrosive climate, or had body damage from an accident or both.

The 210 chassis is most prone to this problem, with the early diesels being the most prone of the 210 chassis. I keep an eye on all that come through the shop and point out any that show rusting around the spring perch mounting area.

The perch is a replacement part but you're probably correct that the cost of the repair will likely equal or exceed the value of the car. My concern at this point would be other corrosion related problems that are hiding. What's the condition of the other perch? The suspension in general? You get the idea.... and it's probably time to move on.

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90 300TE 4-M
Turbo 103, T3/T04E 50 trim
T04B cover .60 AR
Stage 3 turbine .63 AR
A2W I/C, 40 LB/HR
MS2E, 60-2 Direct Coil Control
3" Exh, AEM W/B O2
Underdrive Alt. and P/S Pulleys,
Vented Rear Discs, .034 Booster.
3.07 diffs 1st Gear Start

90 300CE 104.980
Milled & ported head, 10.3:1 compression
197° intake cam w/20° advancer
Tuned CIS ECU
4° ignition advance
PCS TCM2000, built 722.6
600W networked suction fan
Sportline sway bars
V8 rear subframe, Quaife ATB 3.06 diff