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to paint or not to paint?

I've got an '88 325is with 160k miles.  The mechanicals are fine and I
thoroughly enjoy the car.  The problem I have is that I believe the car has had
a mediocre repaint prior to my owning it.  Now there are several rust spots
appearing at various locations.  Some spots could be pushed through with a
finger.

Is it worth the money to have body work and a repaint done?  Anyone have any
idea what it might cost?

TIA,

Ted Arneson
BMWCCA-Windy City

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Ted Arneson

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