Well I picked up the trailer this weekend, installed the hitch with the effort of the former owner and myself and pulled it 1000 miles, sleeping in a TN rest area playing bluegrass music all night and then a Walmart parking lot.

the trailer rode nose high but I had inches of clearance above the rail. I think I'll drop it down another notch and see how that goes. My concern being taking out that extra margin of space above the tailgate/rails . I was able to get the trailer level in the Walmart parking lot due to a fortuitous dip in the asphalt where the trailer was pointed down while the truck was pointed up.

There was no lift done, as such, but I understand that a recall was done to correct some bad axle connections and that realized an effective lift of 1.5" 

pulling in the great smoky mountains was an interesting experience!