If you look at most low drag concept cars, you will see that they almost all use under body smoothing, indicating that ideally a full belly pan is "best." However as you have probably gathered they are also a lot of work on a typical truck, and you have lots of pitfalls you need to avoid for success, such as exhaust heat removal, airflow for transmission and differential cooling, etcetera.
The chin spoiler is comparatively easier, however be forewarned that bigger is not always better. A good starting place is as low as existing components, i.e. if the lowest point on the underside of the truck (excluding the rear differential housing) is 12" from the ground, a good place to start with your chin spoiler is 12" off the ground.
Many on here have used rubber or other flexible materials for air dams and side skirts so that they can stand up to truck use.
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