Rot in my MB!

Hi everyone!

I have a couple of questions which I hope can be answered.. My car is a 1974 350SEL Euro/4 speed.

1. When I go over a bump in the road, I can hear a loud "thunk" coming from the firewall area. I inspected inside the wheelwell, and saw that the metal that surrounds what looks to be the stabilizer bar bracket is all rotted away, and the bracket looks as though it has come loose from the firewall. Does this mean that the car is unsafe to drive? I have had this car going on 10 years now, and would hate to part with it!

2. In the rear wheel wells, there's some "bar" or link that fits in a cut out in the sheetmetal, towards the rear of the wheel. On both sides, the bar has popped out of the indent. Is this a safety consideration as well? There is some rust on the rockers, but I have seen plenty of these old MBs with corrosion down there. If you look at the body, it appears to be really sound, there is NO visible surface rust to be found, and the paint is very clean and shiny. What should I do about these problems with the chassis though? If there is considerable rust on the firewall, is there any solution short of replacing the entire piece of metal? How does the broken mount affect driveability and safety? Thanks in advance!

Rick, '74 350SEL