Ahhhh the joys of older boats....
Yeah don't even think of using that tank. remove and replace. It is ugly now but when it is all back together with a new tank you will feel a lot better knowing you are not sitting on a time bomb.
Best of luck with it. I am sure you can either get the exact tank form the manufacture OR have something close to identical made up. While you are at it be sure and put in a new sender and pickup.
It looks like some electrolysis was attacking it. Make sure everything is grounded well. Also I bet there is a lot of white powdery #^&#^&#^&#^& in the tank. You will be happier with a new one and so will your fuel filter.
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