Slappy it sounds like your car see a lot of street duty. I'd sure go with the shorter 7qt pan. Less worrying and anxiety over the deeper pan.
Was just taking about oil pans at the local cruise in tonight. Cause the owner of Milodon was there with his 69 RR and he just got back from SEMA.
One thing about the 8 and 7 qt Milodon pans is the triangular kick out. That reduces windage more that a straight down pan. When the oil is whipping around down there, the angle make the oil curl back like a wave cresting back on itself.
The 7 qt pan has some tricks done to it make it perform like a deeper pan. That cutout that looks like its for suspension clearance, is NOT for suspension clearance. It's done to make the rear wall of the sump taller to keep oil from spilling back like you would get from a deeper pan. It make the rear wall of the sump almost the same height as the 8 qt pan.
BTW for you drag racers, Milodon just released at SEMA a new small block Mopar pro competion pans with a full length kick out and louved tray. Like the pro comp chevy pan here:
http://www.milodon.com/oil-pans/drag-race-bbchevy-oil-pans.asp