You have the same questions I had when I first started my build. I talked to one of the men in our fabrication shop who used to build the type of trailer you have and here is what he told me.
The side walls are constructed as a ladder which gives the strength needed to make the 3500lb rating. If you cut off the top rail and vertical supports you de-rate the strength of the frame about 35 to 40%.
The good news is that since your floor and walls will be bolted to the bottom frame, the torsion box you will be building as the tear drop shell will add some of the strength back.
My 5 x 10 utility trailer has 2 x 2 x 1/8 angle for the bottom framing and 3" x 1/8" angle for the A-frame coupler. The trailer I built uses 2 x 2 x 1/4 angle with cross members on 24" centers. The trailer was not flimsy to start with and since I have added the tear shell, the thing is solid as a rock.
I do not know the weight of your project but I can not imagine the full loaded weight being more than 1500/1600lbs max.
I am just a beginner at this and have asked many questions and looked at many frames in the albums and based on the frames I have seen, my frame is within the load limits of my materials.
Take the time to look at all of the albums you can and you will find a very deep well of knowledge.
Good building
