After almost a couple months since receiving my tire carrier and taking it offroad a few times it has and will continue to serve me well for what I wanted. However, as Seattlemike eluded to, I also felt the tire was too far away from the body of the truck so CBI fabricated a new bottom piece to ensure I was satisfied with their product.
Basically, they shaved off 2-3" lengthwise of the bottom piece bringing the rear of the vertical arm closer to the truck by the same distance. It looks much better than before but will never be as close to the body of the truck as having a new rear bumper with integrated tire carrier. They also removed the pass-through receiver portion but I asked them to include a tab so I can attach my 3/4" clevis shackle for recovery purposes. The new piece did not affect the fold-down ability of the rear tire carrier.
I'm happy they continued to work with me to give me exactly what I wanted. Here's a couple pics of the new setup.
