I was thinking of just cutting it and welding on new panels or just even some sheet metal. I wouldnt mind some fender flares but i dont want to drop a huge amount of money into it
I feel the same way, function over form.
I have bushwackers on the rear of my truck to hide some ugly rust conversion that I did, cheap and quickly. My rust wasnt nearly as bad as yours but I would most likely need to cut out the same section as you. Luckily the flares were able to mount using self tapping sheet metal screws, and I have had them on for 6 months and they will most likely remain on and strong for the next few years in the salted streets and winters here.
I too plan to simply cut away the rusted out area and weld in flat or slightly angled sheet metal from a few inches below the topper, until I can connect it to the metal wheel well housing, paint it and call it a day.
That is if the truck will last that far out. My frame is rust free, so it just might. My 3.0L has 318,000 original miles on it, sooooo, might have to cross that bridge first.
Regardless,
Its at the bottom of my list and will be a function over form thing.
I hear you can buy front fenders, cut the flare out of them and reverse the sides and they can be welded to look pretty close to stock as replacement panels. Not sure how far gone yours is though.