Not familiar with Reese hitches, but I'm running with a relocated tank and also have a Draw-Tite hitch, so I know it can be done... It was a straight forward installation with plenty of room for both.
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'72 short step, 350, 700R4, tilt, ps, pdb, a/c, lowered coils, etc., other work in progress... San Diego, CA
http://www.ixpres.com/vlusardi/chevtrk.htm
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'72 short step, 350, 700R4, tilt, ps, pdb, a/c, lowered coils, etc., other work in progress... San Diego, CA
72 Stepside Project