Cut out front wheel wells or no?

That is a typical rotten spot. There and down by the framerails. It's all gotta be firmly attached. And also under the upper control arm between the control arm saddles. If the saddles start moving around, then the alignment changes and then the car steers itself.
Another bad spot is the rear spring hangers, where they bolt to the frame at the back. And of course the rocker boxes; these too are structural.
Enjoy your intimate time together. After yer done you have about 8 years of respite, before it comes apart either again or somewhere else. Well in Manitoba at least.
Yeah I’m sure when I’m in my late 30s or 40s it’ll get a full overhaul. But she’s garage kept now so she should last a couple hundred years