Modify the bellhousing crossmember, but don't remove it altogether. It also serves as a brace for the rear spring pivots and there will be some nasty flexing of the frame if it's not there. A better way to handle the transmission clearance problem is to fabricate a bolt-in center section that drops a couple of inches to make room for the torque converter housing.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!