I have left the bump stops on, never really thought of taking them off, I have seen them cut down in the past though. After reading your question, I think it is better to have something there to protect the chassis, and a bit of rubber is a good idea.

To help with flex, I have fitted Superior Engineering drop shackles to the rear, you will need longer shocks though.
I have removed the sway bar from my 'cruiser, it still handles ok, but I do have 45mm 9 way adjustable Toughdog shocks. I can get the part numbers I am using if you are interested. They are a very heavy duty shock, I guess a 45mm bore sorta indicates that

. They are far better than the shocks it came with, Munroe I think they were, any way, they were well under damped compared to the Tough Dog's. I have never had a "pogo" effect with the TD shocks, but the other ones, well, it was like driving an elastic band, and got bounced all over the show on the smallest of corrogations off road, let alone serious big bumps, which the truck would literally jump, not a pleasant sensation I can tell ya.
I dunno about other brands out there, maybe someone else will be able to tell you more about EFS and OME.
If ya want some photo's of my shocks/intstallation, I am only too happy to help ya. The list of my mods are below, if there is anything ya wanna know more about, PM me, and I will fill you in.
Hope this helps, Shane