By the time you get those holes patched up, you're going to be a master craftsman at metal finishing and shrinking. That's not a bad thing, as those skills are rapidly disappearing, replaced by guys with a deep pocket and no metalworking ability. Try your hand at patching, and if it's a lost cause, all you're out of pocket is a little sheet metal and some welding supplies. I agree with Brad- - - -beadblast the parts first and evaluate your options after the rust is gone.
Jerry