[A1971Blazer]

I've pondered, contemplated and researched the very same idea, except doing it with a short bed pickup....('67-68)
I've talked with DIY offroad and a couple of other companies about it. They all concur that the trailing arm rear set-up would be perfectly fine for a vehicle that is not intended for any hard core off road use....and would likely give a better quality ride.
Also, if you notice, most hard core rigs use some kind of link rear suspension as opposed to leaf springs.