That looks like the way I did my '46 1/2 ton bed.
There wasn't so much as a toothpick sized piece of wood left in the back of the truck, so I just kind of did what made the most sence.
The "block" was just a sawed off chunk of pressure treated 4x4 that I drilled straight thru.. and the "pad" was a piece of old tire tube I cut to keep the wood from "grinding" on the frame.
Assorted bolts, nuts, and washers were scored from the local farm store.
Probably won't get me front page of "Antique Truck Restoration Weekly" but it holds 6 - 55 gallon drums full of corn just fine (and the tailgate still closes!)
Altho all that weight makes the back end squat down pretty low!