Nolan,
The killer is the bodywork it is time consuming thus expensive If you have severe rust you are in for it$$$ but if you have just surface rust and dings and dents you can pull it off at a reasonable cost.First get the book "How to Paint Your Car" this will show you basic bodywork.Next you will need a About 500.00 go to Habor Freight get a aircompressor orbital sander and paint gun and rubber sanding blocks.Next stop autobody store get a range of disks to fit your sander from 36 to 220 grit and sandpaper 36 to400 grit some bondo and primer surfacer and you will be on your way.500 might sound like a lot but it wont go very far in a bodyshop.Also I wouldnt try to do the finish paint with this stuff.Try Macco or Earl Shibe.I cant remember the name but we had a fellow bolter do his rig at Earl Shieb a while ago and from the photos he posted it looked very very good. good luck Aaron