I think the bottom line on rust = repairs is, yes, you can but....
 
If you ARE going to make the effort, and it is considerable, you should really investigate the cause of the rust in the = first place.  A scratch?  No problem, sand, prime, repaint.  = Paint worn away by grit, etc.?  Again, no problem; maybe add a layer of = undercoating before the topcoat.  But, a rust perforation from standing water = will recur, unless you replace the rusted metal with a non-corroding substitute.  And little body rust flecks are usually due to = deteriorating paint: little holes you can't really see, even up close, with the naked = eye, but are plenty big enough for the water to reach bare metal, start = corrosion, and travel along the soluble rust, furthering the 'cancer'.  The only = real answer here is the total repaint, and I mean TOTAL, if the cancer is widespread.  That's ALL the body, sanded down to the metal, = inspected for corrosion, repaired, primed, painted.  $3500 - $4500 is very = realistic for this size of job; if it really is a good shop, you're getting a deal.
 
But for little jobs, beware: it can get = messy.  Have you a wind-free place to paint?  If not, overspray can dull other = car parts; masking the whole vehicle to paint a small fender patch isn't = unheard of.  Are you prepared to use proper acrylic enamel paint?  = That means mixing, hardeners, other additives; again, messy.  Has the rest of = the vehicle's paint job oxidized, even a little?  If so, you can make a = 'perfect' match to its paint, and the freshly painted patches will stand = out like a sore thumb.
 
All caveats, and things that are eventually = overcome by the patient perfectionist, or ignored by the care-free.  If you are = neither of these, spend the Hawaii money on the pro job.