I have a 94 S10 Blazer toy. (Not street legal)
What are the pros or cons to relocating the Rear axle over the spring? It looks like I can remove the axle, then cut the spring plate then reweld it on the top.
It looks like this will give me 2" of lift.

 

Cons would be lifting the front to match, needing longer shocks and a bit more of driveline angle.

Pros is a cheap lift that has been done many times.

 

I guess there are a million ways to lift the rear, just a few to lift the front.
Longer shocks would not be a problem as almost any lift I'm sure I would need a new set.
Could I angle the rear axle to help match the stock drive line angle?
Why would GM put the axle on top of the spring? Does this some how give a better ride?

 

You would definitely want to re-do the pinion angle for the added lift.

The axle was put on top of the spring pack to keep things more compact.

 

This will give you 6" lift or more. Remember that the Axle is 3" in Diameter. That's 3" right there, then there's the height that the perch is off the axle. If the perch is an inch that means that swapping it to teh other side will add two inche sto the height.

Set the axle under the Leafs with the perch, jack the axle up until the springs are fully loaded, then determine the Pinion angle. You probably have to unload the springs , twist the axle to change the angle then load the springs again until you get the angle right, then weld. If you want to do it 'right', angle the pinion so if it was a gun, it would shoot a bullet and hit the trani spline... Then have a CV driveshaft built.