I would think plating would be a good fix. I would make it plenty bigger than the rust hole, and place it under the tub if possible. That way the weight from the tub is sitting on the plate, not hanging from it. You're probably gonna have to thru-bolt it, and if possible, a little mig welding. I myself would rather see both. If one fails, the other is back-up. I don't think I would rely soley on welding though. The thin steel of the tub will be hard to weld if you don't have experiance, and the weld could always crack. Cut a clean square/circle in the rust spot, and get the largest plate (within reason) that you can fit in the area. You might be able to fill in the top area (inside the cab) with fiberglass filler after all is done to give it a clean finish. Just thoughts...later