Dayum, with a little more effort whoever did that could have just driven that bolt through the frame side and would have had nothing to worry about then. :S
Me, since i am not the guy skilled in that kind of metal work, would take it to a shop and say straighten this thing up and make sure it is as strong as it was when new. Who knows, maybe it has been run that way for years, but I would have it repaired for peace of mind since I am a worry wart. Since we are keyboard warriors here, I do not "see" a deep corrosion problem. Hey I thought they were spose to be rusty when new on the lot. ;)
