Got under the truck and did a little rattle can touch up on some of the surface rust spots. Looks much better. Still have some more spots to go, but all in good time.
I had not put my spare tire back up under the truck since I took it off a few weeks ago when I removed my hitch. I gave it a quick shot of rattle can black before lifting it back up, however I forgot how the hoist came down and encountered the secondary safety latch that I had to refer to YouTube to figure out. Doh! Channel locks and a squeeze and it comes down, but it is not obvious if you did not know in advance. smh.....
The assembly is still in great shape, but I soaked it in WD-40 anyways and brought it back up. Looks better without the spare tire under the rear bumper, but worth the piece of mind to have a spare under there, especially as I picked up a screw in my rear tire 2 weeks ago that thankfully did not completely cause the tire to go flat before I got it to the tire shop to fix it. It is only the OEM 16", but better than nothing.
Here are some pics of the frame and the spare tire hoist in case you needed some reference.