I got through about 40 of them before my IE started crawling and pissing me off. Overall I'd probably attack the rust on all the chrome first, and definitely address your electrical panel. I'd take it all apart and clean/grease all the connections. You'd be surprised how well the chrome cleans up. It'll still have pits in places, especially the rear taillight brackets, but it'll look a lot better.
I don't know if it would be worth trying to clean the rust off the pan. Maybe if you ever get around to recovering it, break it down and apply some rust inhibiting paint or even blast it and paint.
