Ok so I jumped in last night and started to move things along!!
Looking these pictures you will see why I bought this car! I found two rust spots under the carpet

but I think you will all agree that for a 40 year old car it's not to bad??
First I removed 55lbs of old nasty carpet and factory sound deadener. And this is what was left.
Driver side under the rear seat has a couple of holes.
Driver side front no holes just some scale
Passenger side front will require a replacement floor pan, it's the worst part of the floors.