We actually tried the fit with the pan turned around, and gave that up because with the foam in place, the hood wouldn't close. I found a picture of a '66 GTO with Ram Air and see that the pan IS SUPPOSED to be on with the low part in front (the pointed end).
I'm going to try the fit again with no foam in place and measure the hood clearance again. We used crumpled up balls of tin foil set on top of the pan to measure clearance. We had about 3/4" in the rear with the pan installed the wrong way and zero in the front. We may be OK with cutting the high end (rear) of the pan "funnels" as discussed above.