I have a car I bought from Houston that has a some rust underneath, although the undercoating has done a good job of protecting most of the construction. Much of the front end stuff had some rust also. I have a friend who has glass beaded some of the smaller parts (light buckets, brackets).
What I have learned so far is that there are varying sizes of beads, as well as various materials besides glass to blast with. We used a fine glass bead on the smaller parts and there was no noticeable metal loss, although it took longer.
As far as the body goes, I hope to strip it down and have it blasted (it is the only long term solution). There are a couple of body shops where I live that do restoration work and they rent the equipment from time to time. If you can get with someone like that and get scheduled in, it may become affordable. Good luck.
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