Yes, it's necessary. You are only concerned with the forward joint on the driveshaft failing. If the back joint fails, the shaft just drops out on the ground. Nothing complicated about it. Ideally you want the car to be on a drive on lift, but jackstands at with the suspension compressed is close enough. The closer it is to the forward U-joint, the less damage that driveshaft is going to cause when it comes apart. Put driveshaft loop in place, and drill holes. Most of these just have bolts that go through the floor. I welded the bolts to the floor pan so that I wouldn't have to pull the carpet every time to put a wrench on it every time I pulled the loop out; which is literally every time you pull the transmission if it is installed correclty.
Kurt