Besides the recommended jack points mentioned in the owner's manual, is this beam at the rear good enough to place my jack or my jack stand? I want to do some rear brake work and am thinking of jacking up at the rear factory jack point (the arrow pointed area) and placing the jack stand at that beam OR vice versa.

I did a search and someone mentioned jacking up on the welded pinch besides the sill but I find that welded area surface on mine very small and angled. Don't have much confidence using that area to jack up the car.

Thanks

That rear subframe member will hold the car up on jack stands. If you have a floor jack, you could jack the rear of the car up at the dead center and place jack stands on either side of the sub frame, if there is room on the floor with the jack.
Remember, only lift the car enough to get the tires off the floor. And block the front of the front tires!

Klaus
--
I still miss my 164