I think you need to "Skin that pony" . I'd go with a pair of quarter skins if not full quarters. I see too many issues,by the time you were done patching those you'd have to spend a lot of time body working those areas to blend them in right. Aside from the rot,I also see a bunch of evidence of failed past repairs ,and a good amount of Bondo abuse. Plus you would have to plug weld in all of those holes,try to straighten them out, and then refill them with body filler. Plus when doing a quarter or skin you have clear access to the wheelhouses so you can easliy change those(you're probably looking at a pair of outers minimum).