The best solution is sump level with the chassis. This is not usually possible even with a dry sump, as the bellhousing will now be the lowest point.
The best result is a compromise between bonnet height and bellhousing. 3" clearance under the sump/ bellhousing is the usual for 7's here... some have more, some less.
If you are worried, make a skidplate that will protect both the sump and the bellhousing.
Alternatively... fit airshocks
