That was my original plan, but all the instructions I've found online recommend to cut the lip off for a fiberglass hood and to leave the edge on for a steel hood.
I'm using a set of Jegs instructions I found on their website to do the install. They seem to be the most specific.
Today I cut the edge off of the cowl and spent about half an hour getting it set just right onto the hood so I could trace it out.
Edge cut off of cowl.
Traced the cowl pattern onto the hood so it could be cut out.
My hood has a support across the middle to keep the large section from sagging I guess. I'm leaving that support in place for now. I may remove it once the cowl is glassed into place and everything is nice and strong.
And one ENORMOUS hole cut into my hood. LOL