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Thanks all for the replies and insight!

Well I plan on keeping this truck till it dies as it just had the head gaskets done not 6 months ago, so the mechanical side should be rock solid.

I'll Google for a replacement box of the same...

Well I guess I shouldn't ignore the inevitable and will just let it rot some more and save up the $ to get new boxsides done at a professional bodyshop.

Sorry for the thread, feel free to delete...

When I sand thru to bare metal I did not see a "hole" at all.

I was told by the GM dealer (I don't typically trust them much) that the spots of rust that started were apparently a production...

Well I have dreaded rust spots coming through the paint right above the wheel arches on the box sides. I understand this repair procedure will not last forever but I want to get another couple years...