Is it surface rust or are things falling apart?
Lots of my older vehicles have a light coating of rust on things, but don't appear to be eaten away.
I'd make sure the frame and undercarriage aren't rotting away.
2004 TJ Rubicon - 3" lift, 1" BL, Brown Dog MML with Super brackets, 33's, Warn Winch, VanCo BBK - (Thanks MisfitSeven), IronRock tierod, Ten Factory shafts.
Future upgrades - Too many to list
1999 XJ - DD with 228k
2007 JK Unlimited - The wife's ride.