Not worth having it blasted, imo. Youre going to have to burn it out anyway you look at it, from a safety stand point, which will burn off the outside paint anyways.
These are very fun projects that dont require alot of tools, or expensive tools at that. Its a good project for someone like you who doesnt have much metal experience or someone that isnt very DIY inclined.
Have fun building it, cooking in it, and eating (what comes out) it.
And those step bits ROCK i have about 200 holes on one and it still works like it did on the first one.