I've seen people fix worse.. Kinda on the high end for the amount of rust IMHO. The rears you expect the front of the running boards indicate alot more. It's been for sale for a while now so you could probably haggle pretty well. On the plus side it looks very original, low miles and the late model like a 79 is very comfortable to drive vs the earlier ones and even the 75+ with the bucket seats.
See you on the trail
Couple o' FJ40's, BJ70, PZJ77, UZJ100, TDI