Is it worth saving

If it's as rusty as you say it is, then that pretty much answers your question.
No matter what you decide to do, you won't please everyone.
Do what you want.
One question to ask yourself is, if you stripped the car down to a bare shell and acid dipped the body, how much would be left after it's pulled out?
Rust is usually at least twice as bad as it appears on the outside of a car.
I would say part it.