I went ahead and added a 1-1/2" PVC spacer to the rear shock on my 2001 Recon, here's what I ended up doing to make it work for me.
I glued a small piece of 1-1/2" Sch. 40 PVC pipe into both sides of a 1-1/2" PVC sch.40 coupler (the length of the coupler was 1-1/2"), I then cut the end flush with the coupler to give me a length of roughly 1-1/2". This gave me the spacer I was looking for and it fit very nicely on the shock, I then painted it with some black rustoleum spray paint and let it dry.
I then went to work on compressing the spring on the progressive shock that I ordered (I found it on E bay for around $45 or so, it's for a 2000 TRX 300 2x4 but it fits just fine), I turned down the spring to the softest setting, I then clamped the bottom of the shock in a vice and ran a ratchet through the top coil on the spring, I did this to both sides then ran the strap under the vice, so I would have more length to compress the spring. I tightened both ratchets at the same time to compress the spring evenly and just enough to remove the spring retainer. Once that was removed I tightened the spring enough to fit the spacer on top of the spring and then reinstalled the retainer. I started loosening one side my opening the ratchet, then I would snug it back up and loosen the other side.
Once the spacer was installed and everything was lined up and looking good I reinstalled the shock, to do this and to remove the shock I ran a ratchet from the rear rack and up to a rafter in my shed and then tightened it up, I also put a floor jack under the receiver hitch and by lifting on the rear rack and using the floor jack to fine tune I was able to remove the bolts for the shock very easily and it held the wheeler in place so when I reinstalled the shock I didn't have to move anything.
After tightening the progressive shock to the highest setting I still wasn't completely satisfied so I took the shock off again and decided to put the spacer on the factory shock, while removing the spring from the factory shock I found out that it is a lot stiffer than the one that is on the progressive shock, so I decided to swap them out, that way I would keep the stiffness of the stock spring, and the adjustability of the progressive shock. The stock spring fit great on the progressive shock and after adding the spacer really stiffened up the back end. I have the progressive shock set at the middle setting right now and really like it.
Here's a couple pictures of it after adding the progressive shock and spacer, I also have a set of Foreman 300 4x4 tires on the rear that are 24" with 11" rims to match the fronts.
One other thing that really bugged me was the angle and position of the receiver hitch, it was way to low for my liking, so I welded a 1-1/4" receiver hitch that has a 5" rise to the hitch bracket and also changed the angle to it sits more level.