Dale,
I have same problem with my Gen 111 as Iam running High Energy sump. I fitted 5mm Aluminium skid plate from front crossmember to cross rail near gearbox to give protection.
I am running 25 mm packers under engine mounts which gives about 10 mm clearance to std balancer. Now running unerdriven unit so have heaps of clearance here now.
You would probably need a skid plate any how as the local Gen 111 has
oil filter at the front and its the lowest point on std engine. Imported LS1 have
oil filter to rear.
Skid plate also protects steering rack which may need to be lowered to fix bump steer.
Phil