Hey man....that's a nice trailer!! I've got a custom m416 myself - lots of mods and it rolls on 35 x 14.50 x 15 tires, with over 30 inches of ground clearance under the tub! And....no straight axle hanging down. I've got independent torsion axles (purchased from Ironman) and a custom steel locking top on it too (built by Ironman).
And just a little info for those of you who were asking about the trailer - the m416 is a 1/4 ton ammo trailer. They will actually float with 500 lbs in 'em! And they do come with a 360-degree swivel lunette with a pintle hitch. I've dragged mine over some pretty rough terrain in Canada, and it goes everywhere my Jeep goes!