Right on Rocky! If the main frame is okay, you are halfway there! Don't let the rust scare you off or make you concerned. We ALL have that option: Look under this or that, see the rust and fix it! OR don't look under this or that and hope the car doesn't fall apart at 75 MPH.
'68 428 HO M3 Monster, 4-on-the-floor! Need I say more?