Pics of rusty drivetrain & VIDEO of engine, weird skip.need advice!

Can you give me your personal opinion on the cause of the skipping sound?

Video of idling engine and close ups of the engine at work. (http://www.lostartproduction.com/mov03094.mpg)

Should I wire brush this sh!t off and put on some rust killer or should I replace the parts?
http://www.lostartproduction.com/post1.jpghttp://www.lostartproduction.com/post2.jpg
http://www.lostartproduction.com/post3.jpghttp://www.lostartproduction.com/post4.jpghttp://www.lostartproduction.com/post5.jpg

Fuel pressure?

any ideas? just list em =D

Dude, I'd get that sucker fixed before the rust really takes over. I've never seen a newer car rust that badly before. It looks like you could still sand most of it off (or blast it if you're careful), but it needs to be done quick before it really eats into the floors and trunk.