Blazer..Trazer! Front axle help

[72blazerblue]

Okay so heres the thing. This is a 69 CST A/C Blazer that someone has made a Trazer. It's set for years in a pasture near my home. I'm thinking about taking it on as a second project. If i do i will get a 67-68 front clip for it and go from there.

But to my main point...If you will look at that front axle you can see someone has taken the hubs apart and bearings out and left it to rust inside. Would I need a whole new front axle? Or could i just replace the rotors and calipers and order new outer lockers?

I need some of yalls expert advice! I really wanna save it, I think they are neat but i could never ruin a blazer by welding a top on it lol so since this one has already been taken care of...Why Not!