During the six months since I bought my Sierra I've been readying lots of forum threads. One of the popular topics has been GM frame rust and a fair number seem to point to those rear cross-members as a problem area, some have cited them as a design flaw, reporting broken shock brackets due to rust and even rotted-through areas on those tubes where salt and water tend to remain longer. (Some recounted tales of shock absorber pressures that punched dents into those badly rusted cross-members..probably due to lots of off roading.)
During my reading I discovered that there are a number of companies that re-manufacture GM frame parts, apparently one of their biggest sellers are those tubes, complete with shock brackets. (I also remember hearing of GM recalls and some frame replacements.)
Internet hearsay? Perhaps. That would be good.
I'm ready to start modding my newly acquired Sierra. It's one previous owner clearly treated it very politely, but it has begun to show a little frame rust; not as much as the one you’re working on, but I want to head it off at the pass.
At any rate I look forward to watching the progress of your project.