As I started removing foam from under the flooring, since only about half came out with the rocker pan, I started discovering things......bad things. As you can see from the picture, the front support member isn't just rusted through, it is completely gone! The flooring looks good from above and the PO said that he had a backyard body man do some work on a few rust areas. Well, all he did was cover everything up with fiberglass. There's a hole in the floor near the outside of the driver's side that is about the size of a football. The metal all around the driver's floor area is paper thin if it does exist.
I would be willing to bet that the other side looks about the same. I'm a little nervous about tackling these major repairs myself, so I've been talking to a local body shop that does classic Camaro and Mustang restorations. They are most likely going to replace the whole floor, front to back and any damaged supports. After that, I'll be good as new and with a good coat of Herculiner(or equiv) I should be in great shape for the future.
Talk about one step forward and two steps back!
Needless to say, my wife is very happy that we no longer have a car body laying on our driveway.