The wind deflector is a must if you use the basket very much. It whistles & makes a LOT of noise without it. I made my own deflector out of a piece of polycarbonate - it is extremely quiet now, even at highway speeds (over 70mph).
The only rust I have is where the two halves join together. When I received the basket via UPS, it was poking through the box - they must've dropped it at every opportunity. The paint was chipped there, and after many months it has a little surface rust. Everywhere else it looks like new. I've loaded all kinds of stuff up there, and it doesn't show any signs of wear. For under $130 delivered, this rack is hard to beat!