A lot going on in a pig doing anything over the speed limit and the hood "weird floaty thing" almost disappears when you start focusing on all the other ways you're about to die. Fortunately I have the under/over drive gears in my transfer case...
Yup, that used to be a anti-wrap bar to control "S" curving spring packs and protecting the pinion angle/u joints. No really needed for a spring under set up unless running some monster power. Usually seen more on spring over set ups.