Ok, you're 10 steps ahead of me. Nice work on that research.
The stem adapter sounds like it would take a ton of space. I wonder if the parts are interchangeable in a way that would allow the SM3 upper mount from the aluminum body shock to be installed on the steel body. Though as deep as you've researched you probably found that answer to be no which is why you noted the solution you have.
I really dug into this idea late last summer with a plan to do it over the winter, but I got lazy and never did anything with it.
I never looked into the option of replacing the top cap, sometimes the obvious eludes me. I don't think the stem mount from an alloy body would be compatible with the steel body shocks, but perhaps there are some stem mount top caps available as service parts for the old stem mounts they used to make. The new alloy shocks are built differently.
Alloy stem mount, which appears to require a specific shock body:
Steel body with separate replaceable top cap:
Here you can see that the alloy body eyelet mount doesn't have a replaceable cap, it's machined into the body:
Somewhere on this forum is a picture of a TJ with an old steel body stem mount shock, but I can't recall what thread I saw it in.
Finally, from what I understand, shock lengths are measured to the top of the body / bottom of the stem, so the bushing and retainer already subtract from the available space between the mounts. At least Fox measures them that way, per their catalog:
So realistically, you take up roughly 1/2" of available space with the bushing and retainer. The stem to eyelet adapter takes up 1.5" from where the adapter touches the OEM mount to the center of the eyelet:
This leaves you with a net loss of 1" of space due to the adapter. I had to run 1" of spacers on my OME shock mounts to split the bias at 50/50. If my 9" travel OME shock plus spacer comes to 23.24" when extended (not counting the bushing and retainer), then I should be able to run a Fox 8.5" travel shock with its 22.85" eyelet to eyelet length, plus the 1.5" adapter, and use a 1/2" coil spacer to adjust my bias to roughly 50/50.
At this point, it's just estimates, calculations, and research. I won't know for sure if everything works until I take the time to cycle suspension with the adapters in place and take real measurements. That's the part I've been too lazy to do for the past year.
And this is just the front!