As far as the worn and rusty metal , it looks really good in your photos!
In my opinion, this is really looking a lot like a modern day hot rod that someone put together fast-like to drive. Maybe the owner has plans to resepctively paint it and do some clean work on it. I don't want to offend you, but it doesn't say "rat rod" to me, unless you mean the kind that were around back in the 40's and 50's? If that is what you meant, I think you have it about dead on, but I don't know if they had skull shifters back then.....I wasn't there. Just keep having fun with it, looks great with that weathering job you did.