I've got my trimming done ...
Ended up "reworking" the rear lip up about 1". I can now full flex (i.e. 2 wheels off ground), and have finger clearance out back, and also clean clearance up front.
Went running around in the woods locally listening for any rub, and even banging it hard, everything sounds clear.
The rear "massaging" took about 2 hours. The gas filler kinda made the job a bit of a pain, but not too bad. Probably shoulda "documented" the procedure with pics, but oh well.
Essentially, I layed some tape to show my new line, trimmed to around 3/4" or so of that line (I used a cutoff wheel, but sawzall or shear, or plasma, or ... would work too). I then added some relief cuts every 3" or so (2" where it curves hard), used pliers to get the basic shape, and the BFH to finesse the new lip. The factory paint chipped in some places (as expected), but the factory primer held good.
I wasn't too worried about the "finish" of the new lip since I'm going to have to put some flares on. Also the body already has plenty of dents and scratches, so I just pounded away.
I wanna keep body rot away, so I'll probably have to go back and deal with some of the exposed cuts ... before the flares go on .. some primer should do the job of protecting the bare metal.
post-pics for the hungry ...

