A friend of mine can tell you what happens if your frontbeam hits a bump in a corner at 80 km/h (50 mph?).
He had a short but very intimate relationship with a guardrail!
A bug looks the best when it is this low, but driving is a totally different chapter.
Its radical though!
How about those rearwheel bearings? You'll have to fit an oilpump between the gearbox and bearings to lubricate the bearings
Cheers,
Richard