from rusty to modern!
When we got a rusty old black metal hand-me-down filing cabinet, we let it sit in the garage for a year before we decided what to do with it. With a coat of spray paint and some $2 sheets of 1/32" bass wood from the craft store, we were able to turn our eyesore of a filing cabinet into a modern, sophisticated piece of furniture for our home office.
Once the spray paint is dry, measure your drawers and use scissors to cut the sheets of bass wood to fit. Our wood sheets were 1/32" thick, so they cut easily with scissors. We needed 3 sheets per drawer.
Cover each measured-and-cut sheet of wood with E6000 glue and apply it to the drawer front. You'll have time to adjust the wood to make sure it's straight before the glue dries. Let the glue dry thoroughly before reassembling the drawers.
Use the existing holes in the drawer as a guide and drill from the inside of the drawer through the wood. Then attach your handles using the original screws.