Besides are the RUST what else you say about this panel?
Thanks! for your input.
Tough to see with the small pic but I do see a double tap at the SE lugs.
rust does not look like a major issue. Pic is too small to see. The wires leaving the top of the panel need to be in conduit.
What size picture should I use? How do you resize the photos.
Thanks!
maybe this will help, all i did was increase size on my screen, copy and paste. surely michael knows how to do that.
I have a few concerns but I’ll leave it to the experts to diagnose. 
Rust at any CB termination will become a problem when the OCPD is called upon to serve its intended purpose. Same will be true for the EBJ or EGC. Make note of this and recommend that a qualified and licensed master electrician repair them. 
No Main Disconnect…? Can’t really see well enough to tell if this is a Split Buss panel. Could there be one somewhere else, perhaps next to the meter?
Mike
Could you please share why the wires would need conduit?