If the Jegs kit in the photos is the actual kit, then don't use it. You need the traingular piece woth the hole the size of the axle tube in the middle. Look at the Inline kits in the link
https://www.inlinetube.com/pages/pr...l=6692521664942362587#?f=5020779022569191615|. G-body rear axles are somewhat odd in how the brake is mounted to the axle - the Inline kits use the correct method without any welding or alignment issues.
I second my recommendation to use the Inline Tube kit for the only reason of their customer support. Also, drilled and slotted rotors are unneeded on a street car, but they do look cool - lol. We spent plenty extra for them and they were unnecessary IMO . Good pads on the other hand, is a different story.
Regarding the proportioning valve, if you have upgraded the front brakes via an S10, F-body or C5/C6 install, then the stock proportioning valve will work fine (it's already been answered that you have one - it's mounted on the driver side frame rail next to the transmission). IF, you have not done a front upgrade and install rear discs, then you'll need a new proportioning valve due to unbalanced braking you have. I would STRONGLY urge not to upgrade the rears to disc without upgrading the fronts.