question about warping

I picked up a bottom gate-marked #7. It has apparently been overheated in the past, as the top of the rim on either side of the handle is pushed in toward the center of the pan a little. And after cleaning, the coloration on that side seems to confirm the overheating. The skillet, however, sits nice and flat. My question is: will the overheating affect the structural integrity of the iron, or is this pan fine, except for the slightly oval shape around the lip?

Is it reddened consistent with overheating? If not, perhaps it was just made that way. Photos could be helpful.

Yes, it has a reddish orange tinge along that side where it is warped. I don't mind the shape, since it sits flat - just wondering if has suffered structural damage, or just cosmetic. I'll post a pic after it comes out of the bath (I took it out briefly to check on the condition of the cooking surface - that's when I saw the discoloration.

Any news on this?

Over last weekend I picked up a No. 8 round bottom 3-legged kettle with a triangular pour spout for $10. Looked smooth, but with flash rust, and actually ended up being pretty smooth. Started cleaning it up and ended up with rust that didn't want to come off. I have a feeling this one's no bueno.... Red Rust of Doom!!!!!

On top of all of this, after thinking the worst, I thought, ok, I'll dry it, oil it up, and just save it. After it being on the stove for a couple minutes, I started smelling TAR?!! I think they may have mixed a very small amount of tar in this thing. 90% of the inside is ok. The other 10% has black that lye wouldn't remove. Tar.. :-\

Any info on what to do with this fairly smooth pot, and info on maker is appreciated. I'm thinking it's now a planter.