Your thoughts on removing a body lift

Hey All,

I've always turned to this forum for good input on maintaining my true love, a '98 2wd Tacoma with a 4" body lift.

She's starting to show her age these days. I've heard this squeaking sound underneath my feet for a little while and crawled under the other day to take a closer look... the lift kit spacer looks as though it has pushed through a rusted out area.




I'm not going to lie... I bought the truck 10 years ago from its first owner with the "dealer installed" body lift kit. I just spent a little time trying to track down more info for ya but I can't find anything helpful... for now, will post if I do. I don't know about the fuel lines or steering. If you have a way I can find this out by taking a look you can point it out. And you can make fun of me for not knowing more about my own truck, that's fair game I suppose.

Anyways I've always liked the way the lift looks but to make a long story short I can live without it.

The tires and wheels are larger than stock (They're 235 R15's as opposed to 14s)... and they're practically brand new.

I'd love your feedback on:
• How dangerous/serious this rusted out spacer situation is
•*My options for repair or the affected area
•*My options for lift kit removal
• If I do end up removing the lift (this might be a stupid question) will the oversized tires have any chance of working (No... right?)
•*What to expect when I take it to a lift kit specialist (I live in the city and have nowhere practical to work on her) for further feedback/action
•*What the hell should I do?

I'd love to keep her running forever, regardless as to whether she's my main vehicle. But I'm kind of weary lately... forgot to mention that I've had the ball joints pop out twice while I was driving. I wouldn't be surprised if the impact of the truck onto the dirt road (first time) and city blvd (second time) caused this damage I'm referring to. I've put a lot of money into her suspension, a new rack and pinion and other possibly lift kit related issues.

Thanks all!