How would you guys fix this?

So at the point in my build where I have to address this to move any further. Trying to decide what's the best and most cost effective way to repair this pillar. What have you guys done? I would like to replace the whole thing but that appears to be a quite large job. Has anyone successfully sectioned this area? I am not going for a show winning restoration just trying to make a solid driver out of it.





 
Hard to tell from pics, but structurally it doesn't look that weak. It looks like rust convertor would be good enough, but personally I would take the time to replace the bad steel. Since it's all hidden you can do whatever you want with the patch pieces.
 
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