Southern Cali? Hells yes, lol! Stayed in San Diego when I worked for Toyota, doing a line install at the Tacoma plant in Mexico. I could be talked into that if things were different.
I just got this truck last year. Didn't realize the rust underneath, as the body was pristine to match the then 29k miles on it. I later found out the truck was in Canada until last year. It gets washed (incl. undercarriage) about 3-4 times a week. I've got an unlimited pass (complete with express lane) for a really good car wash.

I know the skid/cover plate can (and should) be replaced, that's a no-brainer. But I'm more concerned with the heavy rust to the other front-end components. Wondering if I should spend the $$ to basically rebuild the front suspension, it almost feels as though it would benefit from that. It's clear that nothing on the front end is going to come apart for eventual service, when the rust will be even worse.