Eliminating that frame to engine cable reduces the circuit by two connections. Any extra connection point is a potential source for a dirty or loose circuit that causes slow cranking. Since the starter draws more current than any other component, it makes sense to provide it with the shortest path back to the battery. Yes, connect the ground cable to either a starter attaching bolt, or one of the bolts that hold the bellhousing to the block. Then run smaller ground wires from the engine to the body and frame to provide a ground path for headlights, dash instruments, etc. It's hard to have "too many" good grounds!

The only reason GM used the 2-cable setup was cost savings- - - - - two short braided cables cost less than one long heavy cable.
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!