Oh yes, the cut out on the top is to clear the bell housing. The belly pan runs from the engine all the way to the differential. The weakest part of any Cobra type chassis (open car) is the area of the cockpit. The low cut out for the doors makes the chassis flex in the door area. That is why many old Cobras that you look at have cracks under the doors. The original frame rails were pathetically thin and flimsy.
Now I will go and play Chopin's Nocturne Opus 27.2. I hope Chopin doesn't roll over in his grave.
David