Scott & Brenda: You mentioned that the truck has air suspension. I don't believe GM provides air suspension as an option on the 4500 so I'll make a stab at guessing the air suspension was provided by Monroe and may be of a third party mfg.. That bar you see may be the forward mounted "pivot point" for the axle which will seem low due to having to maintain driveshaft/pinion input angle when axle moves up & down. The benefits of the air suspension ride may be enough to negate the usually remote possibility that you will "ground" that pivot point.
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Sandra, Bruce
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