To remove the forward bolt, if you are replacing it, you'll need to drop the spare tire. If you are happy with the factory bolts there is no need to remove them and then there is no issue.
Installed Rally Armor mud flaps. I went with these because I wanted something that is flexible so if I come off a rock onto a mud flap it will give and cause no damage. They are on the high end of cost and install. Removing the backing on the spacers was a pain without tearing up the spacer...
FlyAngler is correct. I've been a part of multiple off-road groups and clubs. Stay The Trail, meaning stay on the trail is important and not doing so can lead to the closure of areas we all like to go.
I'm happy with my TH ride but the tires are at 30 PSI. I would expect a little stiffer ride knowing that it is designed to be loaded up with gear compared to others.