I can see why you thought it was totally solid from the photos of the body. What lurks beneath the paint can add years and $$$ to a restoration. However, your rust is fairly typical and doesn't look too bad. Be glad you didn't buy a 64-1/2 Rustang. Much of yours looks like surface rust so something left to build from. Make sure you spend time on the inside of panels since most 60's cars rust from inside out. When you see it on the outside, there is no inside left.
Interesting that your engine looks "too slanted", like my 64, even after I installed a new right mount. I thought my left mount might be too thick, but maybe they were all like that. My distributor seems too close to the inner fender. But if I lower it on the left side, my oil pan will almost touch the K-frame.
