Ok....so my original decklid was toast, which is not at all uncommon. I picked up a used decklid that seemed workable. As you can see in the first two pics, there were some rot holes, but no big deal, I'll just repair them.
So, I decide to cut a good section of skin off my original decklid and transplant that onto the decklid I plan to use. In the process, I cut off a section of skin and found pure evil under the skin. Problem here is that I can't get to all of the bracing without completely pulling the skin off. Well, sort of too late for that!
Bottom line: If you see rot holes, you are in for more than what meets the eye. In the case of decklids, small rot holes will also likely indicate that the areas of the decklid frame where the skin folds over will also be rotten. Looks like I'm going to order a reproduction lid!