Definitely conditions of older SS lacquer paint. Not much you can do with it other than make it shine. My El Camino has a few areas with the same condition. Do NOT use aggressive sanding or compounding in those areas-it will just open up the cracks even wider. I recommended Mike P's SS paint restoration process since it was so successful on my Camino with the same paint. I now do the process every year before show/cruise season. Clay, multiple M07 apps with at least one overnight soak, polish with M80, PW Black Hole glaze, then use waxes that don't streak or leave white residue in the cracks. Optimum Car Wax or DuraGloss Aqua Wax works well for me, followed by Meguiar's M26 or Gold Class as a final topper. Despite its multitude of paint maladies, my Camino has earned a few trophies when I've chosen to enter it in a judged show, which is why I'm such a disciple of Mike's SS process.
Personally, I'd love to take on the job. Due to the time invested, it could never be a moneymaker, but the pride of accomplishment when you bring a "left for dead" paint job back to an acceptable level is so rewarding.
Bill