The camber thing is something people who like slammed V-Dubs go for, it happens because it has a swing-axle instead of IRS. I like the way it looks because it really shows how much the vehicle is lowered. I also like narrowed front ends that (tuck) the tires, which has a purpose, it makes it so you can still turn the whells without them rubbing the fender edge.
I don't think there is a section of a VWs body or frame that isn't duplicated as a rust repair panel, so it you really wanted to you could cut out all the rust and put in new metal. As long as the backbone of the pan and the torsion housings are intact. Assuming the car is stock, it has a 1600 dual-port, so it is worth picking up as a donor car, if the price is right.
If you are not familiar with VWs, I suggest buying How To Keep Your Volkswagen Alive (John Muir Publications) and reading it cover to cover, skipping the technical proceedures. All the intros and "raps" are everything you need to know about Volkswagens that you aren't going to learn from other tech manuals.