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An Edelbrock Performer EPS, BG Demon, and the Edelbrock Elite on a stock '80 motor leave about 1/4" clearance (if that) with the hood closed. Does anybody know if there is a 2" tall element out there that will fit the Elite style triangle air cleaner, or if there is a drop base available???
1/4" is plenty of room, if you have solid motor mounts.
Just a suggestion. You can gain about 1/2" if you cut the ring off the base that sits on the carb. Then you will need to drill two holes for the float adjusters. I had to do this to my drop base to get enough room under the hood and I have a 3" cowl. You may have to cut into the aircleaner around the edge of the base if your throttle linkage sticks up to high.
The cheapest solution would be to get a drop base from the Holley 14" filter that is available at Advance Auto Parts... It's a 1 1/4 inch drop base and if I recall correctly - it's only around $20 - $30..