It seems to me that the phrase "leaving it as it is" implies taking no action. If that is the plan, I believe the rust will continue eating away at a fine rack until it is lost forever. I believe you need to take some action to preserve this item - neutralizing the rust and sealing it to prevent future rust development or powdercoating. I personally prefer to see restored items as they remind me of how I remember things from when I was young. Some people prefer the patina look - I guess they like to remember things as they found them. But I believe going the patina route without stopping the progression of rust will lead to the end of this hobby.
