For better or worse there are no definitions on what a rat rod really is. Thanks to Dave "dangeroustoy" Brisco for pointing out to what ends folks can take this thing. Here's a suggestion of potential classifications of Rat Rod:
1) Vintage hot rod not completed or painted
2) Hot rod - work in progress
3) Intentional vintage look recreation
4) Intentional vintage look with anything-goes mechanics
4) Creative newer projects
5) Crappy hotrods, poor workmanship, etc. This I suppose would be below the acceptable level of rat rod. Maybe it would just be called a crap rod.

Please feel free to add your comments. Personally I agree with Streets that pride in workmanship is essential to be acceptable.

Hey, has anyone heard of anyone building a rod out of the older Volvo body that looks similar to a 40 Ford? I always thought a slighlty chopped version with a small mill would be cool.