No, the '66 I sold a few years ago didn't have any rust issues like this one. It is also done. The new owner kicked butt and restored it and is driving it now. He posts on an fb page occasionally, and it's a very nice car.
IF all the sheet metal work was done correctly for fitment, this could be a nice car too. Looking at the frame pics, I have my doubts, as the frame is still rust scaly under the paint and they didn't bother to straighten the rear cross member. Gonna be tough to get a bumper to align with that bent out, right Jim ...
BIG negative here, for me, is NO title. All that work and money spent and never getting a title is crazy.