Go with the new hitch assembly route.
I bought a hitch system which is made for custom installations. It comes with the two side plates and the main hitch assembly bar. You bolt or weld the plates in place then weld the bar to the plates. This is great as you can set it at any width or height that you want.
Another reason I got it is that my local trailer place did not carry a hitch that would fit on the deuce. All the hitches they had were either 1-2 inches too narrow or too wide. Plus it is not legal to drill holes in the bottom or the top of the frame on a big truck up here. You can only use existing holes that were made by the manufacturer in the top and bottom of the frame, and I had none. And since I have to get my truck inspected every year up here, just saying "to hell with it and drilling through the top and bottom was not an option, I had to be able to bolt through the side of the frame for the hitch assembly. This kit let me do that.
I removed the light brackets and bumperettes off the back of the truck, marked the holes in the plates after deciding on the height of the hitch, then drilled the holes in the plates and bolted everything back into place (hitch plates, bumperettes, and light brackets). Once it was all bolted back together, I centered the bar assembly and welded it into place.
Once I repaint the truck, the hitch assembly will pretty much look stock on the truck. The hitch is a class V, which will take pretty much any trailer I can connect to it.