JB : I think toyota is trying to limit people from buying a vehicle (perhaps someones old parts truck that's not on the road) and selling it back to them for a major profit. Your right though, the rust is still there no matter how long you've owned it.
I think the thing to remember is that toyota isn't calling this a recall, just a "buy back" and its at their discretion.
WCH: Believe me i tried
, I wonder if i use the 5lb sledge.....
EDIT: after a little time on the toyota forums i see that if the vehicle was purchased after March 2008 than toyota will only pay the purchase price, if it was purchased prior to that than toyota pays 150% of Blue book excellent condition.