Very rusty rear axle on Ford transit

I have seen a nice Ford transit van that i'm thinking of buying.
The only fault i can find (if you can call it that) is that it has a very rusty rear axle, the rust is on the middle casing where the oil goes.
I know they can get rusty as they are underneath and exposed to the elements, but this ones very rusty.
Is this a concern or would it cause no problems as i assume the axle is thick heavy metal and therefore the rust would only affect the casing surface.
22:15 Thu 10th Mar 2011
 
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-- answer removed --
approx 1.6- 2mm steel plate for cover and casting on body.
I have only ever see one start to leak because of rust pitting.
My guess is that it looks worse than it really is.
A good coat of Hammerite would see to it
Question Author
thanks very much for all your answers

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