its certainly not going to help you in pulling the sled unless you have a hitch that will raise way up. you want the sled to pull the ass end down and drive it into the ground to help get more traction. By no means does this mean you cant go out and have fun.
as for how it sits, unless you have axle wrap bars, i wouldnt attempt it. pulling leaves will make that thing want to axle wrap like crazy when under load and power. if you still have the stock overload, you can clamp that to the leaves that are left to work as a axle wrap control (old school way alot of guys did way back when)