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Those spacers are usually on the top side of the bottom frame flange. Some people did this to gain clearance on the CV joint when they installed a suspension lift kit. If your truck has a lift this may have been the reason. It would drop the t-case enough so the CV joint would not hit itself. I have two trucks with 4" lifts and did not have to do this. Are you going to put a V8 back in the truck? A 292 with auto trans doesn't sound like it would be to desirable in a 3/4 ton. Just my opinion. Would like to see some pics of the truck .