The truck is worth more in parts/scrap than an actual driving truck. You have no real sentimental attachment to it, so thats not holding you back. I've lived in Tyler, and Houston, and these trucks are a dime a dozen. Plus, most all have no rust aside from the coastal area ones. Most are beat to hell, but most probably dont have the rust issues your looking at...
Save yourself a headache and ditch the truck. You will save time, money, and sanity.