If you read the HAMB regularly you'll find some very safety conscious people there. It mostly comes out in discussions about trailering stuff and about brakes. I don't know why it doesn't show up in discussions of modifying axles like this.
And while I won't name names, I know at least three of the participants in this thread post there too....
There are a couple of places that offer new dropped axles and I've always thought that would be the best solution to this problem. I think CPP offers one and the price isn't much different than what I've seen charged to drop your stock axle.