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1970 164 Body and Rust Repair Help Needed! 140-160 1970

I am in the process of restoring my 1970 164 and I am now in the process of stripping the body down for paint. The more I take the car apart, the more rust I seem to find. Here is my "inventory" of rust:
1) Patch of surface rust below the brake booster from spilled brake fluid, about 3"x3"
2) Patch of surface rust where driver would rest right heel, about 2"x2"
3) Rear fender rust; inner and outer panels reaching about 2" above the seam between the spare wheel wells and the inner fender on the sides as well as the front. I can see holes through the metal on both sides of the car.
4) (Ouch!) Rust through on the upper shock mount on both sides. The metal in the fender well is soft, but still holding the shock, and I can see some "swiss cheese" in the trunk area, about 2"x2".
5) When I pulled the chrome trim from the top outside of the right rear door (where the scraper seal would rest), I found rust in about a 2"x4" rectangle in the center of the door.
In addition to the rust, I am believe the car was hit fairly hard in the passenger side front as the fog lamp surround is entirely Bondo. And, with the headlamp bucket removed, I can see some wrinkles in the core support behind the fog lamp grill and the core support does not line up with the right hand fender. I can stick my hand in between the fender and core support on the extreme right hand side (facing the car). I did rebuild the suspension a year ago and I did not have a problem aligning the car, so I do not think the impact was enough to distort the unibody.
On the good side, the floor pans (minus the above spot), rockers, hood and hood hinges are rust free.
My question is: Should I save this car? I do have some sentimental attachment to it (it has been in the family since 1983), but I am willing to follow logic. Are the rust spots in repairable locations or would it be wiser to search for a chassis with less rust?
Thanks,
Nick






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