Chances is successfully going from some not-so-obfuscated C code to equally not-so-obfuscated Rust code?
Why do you want to do that? The only way to make it work short of doing years and years of static analysis research to automatically translate ad-hoc memory management disciplines into those of Rust (that I think will not succeed anyway) would be to compile to unsafe code. And if you compiled to unsafe Rust code, there would be no gain.
Again, this might be a terrible idea, but I'd be curious to hear from anyone that has experience with this sort of porting...
Easy. But it won't be too useful.
Rust isn't a compiler that magically finds memory errors. Transpiling C code to Rust will not find those memory errors unless you have a really good transpiler that can detect the overall structure and design of the C code. It will just give you a ton of Rust error messages; probably none of which relate to an actual memory error. (Or you transpile to `unsafe` rust, in which case, what was the point?).
Rust works with a set of rules, and these rules enforce some things in your programming/software design style. This enforced style (i.e. the discipline around memory usage) is what gets us memory safety. This style is not the same as the style used in programming C/C++; so a dumb transpilation won't work. You need to write a transpiler that can figure out what logic the code (and not just for a function, for a larger unit) was trying to encode, and write that in Rust. That's ... a nontrivial problem to solve with a transpiler, probably requiring AI skills. It's a mostly trivial thing to do as a human, since mostly such "transpilation" involves noticing a few key issues (related to highly-shared structs and whatnot) and fixing them (leaving most of the code the same).