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That is in pretty rough shape. Not bad though for 1.3 million miles

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[email protected] 2x" width="20" height="20" />. All joking aside, mine was not quite in that bad of shape when I finally decided to do a second round of rebuild, take a look at my pictures at the link below. While you are at it, take lots of before, durring, and after pictures.
The real problem area I see in your pictures is at the bottom of the B-post, rockers, and rear tub support. Ford designed in those rust areas and could have solved it but apparently wanted that to happen so they could sell you a new one. It's the 5 year rule, but we are too tough for "Ford Tough". A lot of the skin metal can be replaced with complete new metal available from an Auto body supply or via sites on the internet ie.
http://lmctruck.com/icatalog/fd/full.aspx?Page=15 more where that came from. Also
http://shop.broncograveyard.com/Bronco-80-86/products/1161/ You will be better off replacing the tailgate frame and skin with new, that is unless you want to have to do it again in a few years. Watch out for the tailgate torsion bar "Bear Trap", it will break bones if caught by it. I told another member how to properly disarm it, so when it comes time, ask.
The lower B-post will have to be rebuilt or replaced by one from a junker that survived, I did mine using the lower B-post off a junker with good metal, same with the rockers. As far as the rear tub support, I cut the back 2 feet off of a 96 and then disassembling the pieces cleaning up rust, rustproofing and reassembling on my truck. The tailgate support will most likely be in real bad shape on yours like it was on mine, that came with the 2 ft of rear end I cut off.
Good luck, you have a job ahead of you, I enjoyed doing it on mine, took a year and a half, part time as I could get at it.

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P.S.
Like Bob said, when you start and have questions, posst in the tech support forum section.