Okay. I went ahead and installed the hitch I picked up last summer at a swap meet. All I know about it is it's a really rugged GMC/Chevy truck hitch that is rated at 1000 pounds tongue weight and 8500 pounds towing capacity. I bolted AND welded it to the frame. All I had to do to make it work was cut about an inch of metal off the mount surface to clear the spring mounts on the frame.
Even though it drops down to the right height for a conventional ball receiver, which makes it kind of obvious back there, I will install a bumper above it to partially dress it up a little nicer.
I really think a higher hitch would look better, and then a drop down ball to make the hook up the right height for trailers, etc.
BTW, it makes a really nice step to get up into the bed...as long as the tailgate is not down.