Sorry to here about the inconsistencies between the description and the truth. Having said that:
1.The ABS repair is something I just finished and have to say the $50 spent to rebuild it was well worth it in my opinion (I realize others will say save the $50 and just ditch the ABS) but the difference between no ABS and all season tires and the new snow tires and the rebuilt ABS system up here in the snows of Michigan are absolutely the best investment I have made in my VX. If you are interested just search for " Durango ABS" as that has all the info I used for the rebuild (Thanks again to Jamas).
2.The blower issue is something I had early in my VX's life. I had the dealership replace it twice under warranty, both times it lasted less than a year. I then had it replaced after the warranty expired with a non-isuzu brand and it has worked for close to ten years now. Coincidence? perhaps, but again not a huge investment.
3.Not sure about the a/c unless it is just the blower issue you were describing.
4. The biggest issue for you is obviously the rust. Hey my VX has spent all 14 years of its life in Michigan so I have come to except that the underbody is going to have a lovely orange red hue to it, but structurally I feel it is solid. As for the exterior body panels, I have a couple of exposed rust spots (the front of the hood from a hard stone impact and behind the drivers door when I slammed the door shut on the seatbelt and chipped through the paint. Yeah they bother me, but not enough for me to switch vehicles.
Before you make a rash decision to sell it off, look at some of the options you have and you may decide to stick with #1706.