Picked these up the other day.
I haven't had a chance to clean them yet but I did notice a small amount of rust and a little paint peeling.
how bad is it, grind it down a little throw some rust converter call it a day type thing?
If you're feeling really anal or live near the beach, I'd take them down for a sandblasting and powdercoating. Shouldn't cost too much, and that'd be the right way to do it. If you're only kind of anal, wire wheel and spray paint. If you're like me, just toss them under the truck and don't look at 'em.
I probably wouldn't grind it down too much if I were you, just wire brush the loose rust off like the guys above said and then paint. If you live in an area that uses a lot of road salt, it's just going to get that bad again, so don't lose too much sleep over it