I see that you're from Wisconsin, so it's no surprise that you're debating the same issue that I recently did--I'm just a couple of hours north of Duluth, MN and my roads are just as salty as yours in the winter.
The answer to your question honestly lies in just how much you love the car. My 90 V6 has been my favorite car for six years now, beating-out my turbo Talon, my GT-S Corolla, and my current Celica GT-S for top spot in my books. The rear quarter panels on my Camry are completely rotted now, and the body under the rear bumper is also a disaster. Despite the extent of the damage, I've decided to slowly do the work.
If you end up being sentimental like me, this is what I suggest: Buy replacement panels (approx $100USD for both), pay a friend or relative to weld them on (approx $400 for me, but more like $2000 if you go to a body shop), and go to Maaco for a dirt-cheap paint job to last another three or four years. Sand blasting or grinding all the other little rust spots on the car isn't a big deal, it's the rear wheel arches that are so difficult to repair. Oh, and if your front fenders are rusted, either get used ones from a wrecker (look on
www.car-part.com) or buy new for around $65 each.
If you decide to scrap the car, I'll buy your Whiteline/Intrax gear!