Thats Rad you found it!!! As far as the condition it just looks like the primer(if thats primer) absorbed some water and is surface rusting under the primer shouldnt be to much work to remedy.....As far as the new owner i wouldnt be to hard on him and the condition of the truck untill you knew the whole story, he could be a frail old man with a cane that doesnt have the mobile skills anymore to work on the truck , but loves it and keeping it.....id rather see it like that then in a field rotting away,or some dipstick doing a hack job on it