Yeah...Its just a matter of whether or not its worth the time/effort/money. Has one of those factory heavy plastic bed liners in it. Basically only drive it on weekends or the rare occasion one of the other cars is in the shop for more than a day.
you could just make it a flat bed, also get rid of the plastic liner, that is what causes the rust, I have an 87' and the bed is almost perfect. if you use the bed at all it is worth replacing, I would . you and 4 of your buddys can do it in one day.