I agree with Keith True, Why replace the fender well(s). On my 29 phaeton, I repaired worse problems that you have. I replaced some of the worst area with new sheetmetal and other smaller places I put some copper material (usually copper water pipe flatten out) and made my own sheetmetal with my Lincoln SP100 MIG with gas. I removed the quarterpanels for better access. I have a lot of pictures I took repairing the serious rust outs. If you want to see them, let me know. BTW, most patch panels are crap.
Rusty Nelson