Think I might have found the answer. Looks like I might need spacers, even with the stock cover, since I have a 2/4.5 drop on the truck. My sway bar isn't installed yet, had to remove it until I can get new rear shocks since the McG's rear flip kit uses shock extensions with the stock length shocks. TheSatinPumkin had to use 1" thick extensions to mount the sway bar on the axle to clear the diff cover when he installed his sway bar with his 4/6 drop because the center of the sway bar was so close to the cover.
http://www.ramforum.com/f46/rear_sway_bar-26911/
Might end up being a pain in the ass since I had already had the frame brackets welded in place and they will likely need to be moved. I'm also thinking about having the end link that attaches to the sway bar split so that it has support on both sides of the bar instead of just the single side attachment that it has now. Seems like that would give more support and less flex at the bar ends that way.