Only differance is I would have SOA. Not this. You could still keep a low COG with SOA jus gives you less to hang on.
Another point to think about here in the whole scheme of things is useability. Average joe at some with a MIG and a couple of beers could set up leaf springs on their TJ to run safely on the highway at 100kmh.
Average Joe with a MIG would need to put a "LOT" of thought, and go through a "LOT" of rig-ma-role to get a coiled 4 link, 3 link, A frame whatever done.
Not saying impossible to do 2nd option, just pointing out the viability and ease might over rule it.