Spike,
Don't be discouraged. Start small... with something very basic. Cut out the bad metal and try welding in a new patch panel. If this goes well, continue on to the next patch...and so on. If it doesn't go well, consider a different option.
If you look at the entire tub as a whole, it's way too easy to say it's a goner. But if you take the approach above, you will eventually run out of rusty pieces to replace. And you will have a indescribeable feeling of reward.
Check in with 1955CJ-5 and his restoration thread under the Projects section here on the 3A. He was faced with the same feelings you are. You may gain some great insite by speaking with him.
I am also working on a project. This is what my current project started as...

This is after a couple solid months of free time...


All pieces scavenged from the best of a 3A and a 2A tub.
If I can do this, anyone can do this!Of course Bill is right about the Wheel houses. They are different on a 2A. I had the added complication of one good 2A wheel house and one good 3A wheel house. But even this can be fixed/adjusted...



Post some photos. You'll get some great additional feedback.
One small step at a time.
You can do this.Again, I highly encourage you to peak in on 1955CJ-5. His restoration is very well documented...and very nicely done.
Tim