I did the same thing, scavenged the drop base and filter from the Ford aircleaner and paired it with my MP lid. Works great, clears the '71 Dart hood on my "demon" just fine even with an RPM air gap, street avenger 670 and a 1/2" spacer on my 340.
That looks like it's worth doing! With that filter I could probably step up to a 1" spacer. The current Ford drop base and filter clear a 1/2" spacer, but there isn't quite enough room for a 1" spacer. 3/4" yes, but not quite 1", and there isn't a lot of spacers out there in 3/4".
But with a slightly shorter filter it might work, even that 1/8" might be enough.
Looks like Summit sells it for $57 too.
http://www.summitracing.com/parts/gre-5112
