Doesn't look bad to me. You should see what some from the rusty north look like. I would remove it and paint it, as I did with all mine, since the factory didn't appear to bother with paint. Given the cuts, I would add a backer plate to the MC bolts. It looks like the existing 2 holes aren't quite centered but might be close enough. You could drill new ones or rat-tail file them. 2 to 4 bolt adapter plates cost ~$45, but I recall that some people had to fab a longer push-rod for those, but maybe that was because they were using a power brake push-rod.