I have a 01 7.3 that had the dreaded oil pan leak. So far so go on my fix so thought I would post. I drained the oil out of course and did end up grinding a fraction of the rust away to get a clean surface.
I then used a gas tank repair kit on the area that was leaking. I smeared it and pushed it into the area of the pin whole. This drys in a matter of two hours and then when back over it again widening the area and tapered the ends until there was no edges. Then came the fiberglass one coating then laid a sheet of cloth over the entire front of the pan including the repaired area. Let it semi dry and put one more sheet of cloth over that and take out the air bubbles and let her set up. Might of been over kill but better than pulling motor..LOL