Wire wheel, soak in white vinegar bath for a couple of days, Duplicolor etching primer, JB Weld the holes. File smooth, then bondo or glaze (glaze is easier).
if youve go the time to do it take the time to do it correctly!
drill four 3/16" holes around the rust out cut from hole to hole until the cancer spot is out then make a patch from the same gauge(thickness) steel. take your time in getting it to fit correctly with a 1/32" gap all around(keep your corners where you drilled round if you make them square itll hold a bunch of warpage in once youre done welding and make finishing it a nightmare. if youve got access to a tig use that to weld it it. if not use an oxy/acetylene set up with filler rod to weld them in(yeah i know both of those will warp alot more than a mig but i said the right way....so bear with me :wink: ) if you plan on metal finishing them. (this is why i said those 2 for metal finishing....)the welds arent as hard as mig welds so you can bump them out without cracking them when you do. bump it untill you feel it pretty close then run a vixen or b-stard cut file over the area(start on a undamaged part and work your way into the patch so you highlight any high/low spots youre not trying to file out anything that is high thats what a hammer and dolly are for) tap down any high spots and bump up any lows repeat until it doesnt pick up anything then give it a squirt of machinist dye and take another pass....if it comes out good then buzz it with 80 grit on a d.a. followed by 180 than shoot some etching primer and get ready for prep/paint.
or you cant take the lazy way out and mig the patch in, bump it to within 1/8"-1/16", and mud it.
Remove loose rust and clean with laquer thinner. Get a bottle of EXTEND from your hardware store. Around $10-$12. Paint it on the rusted parts. It neutralizes the rust. It turns black when dry and you can prime or paint right over it. I've used this stuff on many different items and I swear by it. Gary