TQ on LD340 or Air Gap

Agreed. Somewhere on the World Wide Web is a picture of the very thing your considering. It did not fit under the hood of my'73 Cuda and I doubt very much it will fit under your hood. Do a mock up and see. I could be wrong here.

I also still have my LD340 and TQ set up. A wonderful dual duty set up.
Have you tried a larger Holley?

Fortunetly i have a six pack hood going on the car so clearence will not be an issue. I always go back and forth on if the spread-to-square adaptor is a restriction or a benefit since its an inch think and spacers seem to work very well. depending on what intake i settle on the plan was to bolt the adaptor to the intake and then cut out a long transition from the carb into the intake... thought is it would reduce the abrupt transition.

Again, just a thought.