Yeah but it looks like heavy surface rust like the car was stored in a damp Garage. Better equipped than the 76 Buick in NY. A/C and a Gauge package with indash Tach! Did not expect to see that. It looks like the exhaust system is shot though.
That doesn't look bad to me at all. If you dropped the rearend and cleaned it up and detailed it it would make a world of difference in how the undercarriage appears. What is up with the dual muffler clamps on the tail pipes?
I agree that the rust isn't to bad, as for the extra clamps I would bet there are adaptors installed on the mufflers. The mufflers only were changed and the inlet/outlet pipe size didn't match the old exhaust pipes on the car.
