Currently running a spectra tank that I shot with eastwoods Tank Tone paint. It was very easy to install and I am very impressed. I Wouldn't waste my time restoring an old tank especially if the metal is thin enough to allow it to weep through.
While I was under there I replaced everything with a "do it once" type mentality. Changed the sending unit, the seding unit to tank gasket, lock ring, all the rubber lines, filler neck to tank grommet and all the fuel lines.
I then thought if I replaced half the fuel system I might as well do the whole thing...so I replaced the whole system. I keep the local parts stores in business I tell ya.