The 340 is out....again.....

I kinda question that being a few tenths off the pan floor will cause engine failures, if any at all. For example, the pickup was 1/4" off of the floor of a stock SBM, then the numbers compute out to be less than 1/2 pint of oil that it would not pick up versus being down on the bottom. Maybe in extreme cases.....

It won't. Let's do some math or research as others suggest...
Using 8"x8" sump from a factory pan, which for full disclosure does not include the curved corners, etc of the stock pan so 8x8 is more volume than actually there:
Using the factory ".1875 max" off the pan leaves 6.6oz, or .2 of a quart of oil under the pickup.
Using the same volume: using my "high" of 1/4" or .250" that leaves 8.8oz, or .275 of a quart under the pickup.