Looks AWESOME, Adam!!!! It's sooooooooooooooooooooooooooooooooooo ( .Y. )'s!! It's making me want a black 06+ LII even more now. Mine would be just like yours....except double lifted! lol.
On that valence.....on 04+, it's almost pretty much a requirement to trim that bottom corner. With the tire moved outward thanks to the wheels, combined with the larger tires, the valence is just too dark square down there and it grabs hard when turning and in reverse at the same time. Below is Marie's(DisturbedESV) '08 that I trimmed for her 8's and 12.50's on her bodylifted truck. Your 10" rims and a little more height....I still say definately trim that valence. Here's some pics....
Here's mine...though it is alot rounder compared to your totally squared off corners. Just start with a nice fat rough cut of what you want your final cut to be. It's easily trimmable and if you heat up the knife blade with a match, it's slices through the plastic with great ease. Then take some sandpaper to smooth everything out. I think I used like 240grit emry cloth because that's what I found first. lol. I still need to smooth Marie's out and make that trim prettyier now that I've perfected it.
I really cleared and rounded mine out. Also did the flare backside as well. I wanted any and all possibilitys of rub removed...and I was successful.
Before (note: you can even see the plastic peach fuzz handing below the valence in the corner!):
Tool for the job...