Re: Sheet Metal Trilogy
On my 65 it's set up as you are describing option 2.
the section of the rear cross member that connects up with the wheelhouse and package tray runs between those two pieces of metal.
The outermost piece is the wheelhouse, then working inward the next is the cross-member section, then the bottom part of the package tray.
The cross member only runs between them for a short distance at the bottom of the package tray, then the wheelhouse is set directly against the package tray for the rest of the wheelhouse.
I hope that helps. I think that is how you would want it anyway since if you run fenderless that would be the more smooth looking option since the inner fender would be one smooth curve without the lip of the cross-member showing.
"Do what you can, with what you have, where you are." -- Theodore Roosevelt