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Yeah we are really talking about one of those things where fractions of inches will make or break! You'll find you will have a few of those with an FE in your Economy Built!
And yes that 1/4 inch I was talking about Scotts measurement is looking like its either 1/4 inch of clearance or 1/4 inch of not enough! If you had one you could just kinda wiggle in there I'd feel alot more comfortable on this call! Remember you have a brake line, fuel line and wiring right there too - so they would have to be moved down. You don't want that fuel line to close to the exhaust - vapor lock!
I was looking at those again as well and it looks like the flange is not pointed straight down but rather has a slight angle to it (like 3-5 degrees). I'm wondering if you could mount them on the opposite sides to get that to tilt forward a little so the pipe would clear the steering box a dash more, then round it back?
Check vintage ford in Sacramento. they carry amazing swap stuff. ex.:they carry a single bracket to stuff a Toyota landcruiser powersteering box right in the pocket where the orig was, on my '53 with a 428 & C6, but I used Sanderson headers (Huggers). All fit like a glove! Also, try FE Specialties in Sacramento. Tom is amazing source of ideas, and both companies are very resourceful for weird crap.