I didn't have any rust holes, a lot of pitting on top, but there was a previous repair on the bottom, done in lead, looking from inside it looks like a stress crack, buy the time I cleaned this thing up, por15'd the outside & then painted, sealed the inside I bet I have 30 hours & 65 to 75 bucks in material & it looks "ok" at best, i had everything but the sealer laying around,so I gave it a try, if it lasts great, if not I wasted a ton of effort so I'd say go new if there's any way you can! Rich.