Pauld,
Unless you're really fat, Clearance is fine with the steering wheel. In fact it's comparable to other old vehicles I drive.
Lowering your seat a couple inches will make it harder to see over the hood and steering wheel, in my opinion.
I just went out and measured the clearance between the bottom of the steering wheel and the seat cushion on the '50 3100 and the '76 Ford F-150.
The Chevy has 8" of clearance and the Ford has 4" of clearance. Chevy cushions are worn out so when reupholstered it will probably be about 6".
