take the panel to an autobody shop and flip em 25 bux to sandblast the panel back to bright metal.
order an overlay.Crack your wallet open a tad
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This is the one thing i excel at over most people restoring cabs.. Im a really good paint/autobody/fabricator. My buddy is a cabinet maker.
And looking at this machine, its possible to whip it back together.
I stand there looking at a 32 Ford as the guy behind me is saying "I need it cut back in half then re welded back together like brand new" and im thinking "wtf did i just get myself into"
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You just cant get brought down by the look of it now.. just vision the outcome. IF you cabinet save the poor thing
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You really cant sand rust off completely as you are just grinding it back into the metal .. anybody you see sanding a panel without blasting off the rust first is looking at the rust comming back again.
I dont care how much rattle can you use , its comming back. you have to completely remove the rust and wash it after with final clean or vinegar.