Keeping the tank full alleviates rusting - no exposure to air means no rusting. However, some tank designs make it impossible to fill 'em to the brim - the filler neck isn't always the highest point of the tank.
I use POR-15 to line steel tanks that have rusted inside. The rust is very bad for carburators! Vibration will pull the rust particulates into suspension in the fuel, they'll be drawn into the carbs, then plugging jets & orifices. Plugged orifices are bad! Fuel filters only strain to 75 microns or so, and if a significant amount of rust is present they tend to plug up causing running problems.
Kreeme's "new" formula says it is ethanol safe, but since I used the POR-15 I will never go back - IMO it makes a great, tough finish and dries nicer than the Kreeme. One $50.00 can of POR-15 is enough to coat 3 tanks. I've done 6 different tanks (77 750F, 81 750C, 2 86 xt350, 81 CB450T, 74 550K) in the last year with the stuff and haven't had any problems with it. As with anything, proper prep work is key! Oddly, the 550 tank was in the nicest shape when I started of all 6. Better grade steel, perhaps? I wouldn't bother with a pin holed tank - that seems like just asking for trouble.
I had to remove an improperly installed Kreeme lining from a XT350 tank last summer. PO dumped the whole bottle in and let it settle on one side, and didn't remove the scale & rust before hand. The Kreeme was coming off in chunks. It took 2 gallons of acetone and about 6 hours of shaking, pouring out, straining and repeating to remove it all. I then used a 80 / 20 solution of water & hydrochloric acid to remove the rust. I relined it with POR-15 and have since put 3K miles on the bike running the cheapest 87 octane I can buy without a problem. It also sat all winter with sta-bil added and carbs (and fuel line) drained. Fired right up this spring.
My biggest concern with ethanol is what it does to rubber, urethane and poly-urethane fuel line. Take a couple inches of line and put it in a jar with gasoline. A few weeks later you can see the particles in the bottom of the jar. I bought tygon line from K&L that seems to hold up much better, but it's very expensive in comparison.
Just my $0.02...
BikeBitz