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this will fill in the holes and won't chip out? how does paint stick?
How much would i need? the area is propaly total about in between 1/4 and 1/2 of the body
i used a pint of the stuff. 9.99. that was enough to do both sides of the bed, tailgate, and 2 dents in the fenders.
i highly suggest this stuff

doesn't crack, shrink or fall off. very very easy to use and easy to sand with 100 grit. you just fill over just a little more than the dent and then sand down to smoothness
i searched through hundreds of products and decided to go with this stuff.
(one thing you'll need is some extra white mixing hardener. remember this cause you WONT have enough by a long shot..)
one good thing is you can order color sticks for this stuff so you can lay it on with the color of your car so you don't need to get a paint job.
here's the pint
http://www.shipstore.com/SS/HTML/FIB/FIB571.html
here's the hardener
http://www.shipstore.com/ss/html/FIB/FIB340.html
this shipstore is the cheapest place your going to find to ship, so i'd go with them.
hope this helps
here's what i had.
here's now

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1980 luv sport 4x4 Just a memory now
Frame rusted from the inside. Truck stripped and now looking for a new donor in southern ohio