Yes. The "hump" also goes wide to contain the top of the spring. If the Camaro was a complete frame ( like the truck frame ) and not a sub, the "hump" would be the high part on the frame "rail", when looked at in profile.

Yes, I was refering to the stock frame in the "So if you set your frame..." part.

I don't know about a moderately lowered stance. A lot of different things can affect the stance. Tire diameter, etc. I'm sure 2" would be pretty noticeable, especially with big 'n' littles.