You are relocating the hole , there is not doubt about that.

You also want to pay attention to your driveline angle, the torsion bar crossmember is small in the tunnel on the 70 down B body and back when another company first offered a T5 conversion that they touted as a NO HACK INSTALL they included a trans crossmember that angled the engine way down because as you well know 99.9% of Mopar guys will not modify anything on their precious car as it will take away perceived value ...