I used the same combo, 350/700r4 in my 1952. I've got a 1987 Vette front end. The engine is only slightly moved to the passenger side; only noticeable when you compare header clearance at the frame.
My biggest clearance issues were the headers and the steering. I used a header that swept back a little and I created a teepee shaped angle about 4" tall to support the steering shaft and it cleared with a little to spare. Seems to work pretty well, so far.