Just wanted to pass along what I found when I removed the hood louvers from my '87 IROC. About six or seven very small surface rust spots mainly where the holes are. Not really a big deal now but if it was left for a few more years the rust would probably have spread from under the louver to visible areas around it. Glad I pulled 'em off for a new coat of black paint.

This isn't related to the rust problem, but I found out the hard way that you cannot hose down the hood insulation and then try to move it while it is soaked with water. Mine just ripped in half. Guess I'll be buying a new one.