While this bike is indeed crusty, it's not beyond redemption (to a degree), providing there is no rust-through. If your just dealing with the moderate rust and the pitting I'm seeing, you may be surprised at what an Oxalic Acid bath can do for this bike. It won't ever look like the examples that 49autocycledeluxe has provided, but it can still be a very cool bike! Plenty of info on this site regarding Oxalic Acid and plenty of willing members to help guide you along the way to getting this bike back into shape, if you desire.