I don't think it would open up any runner routing or chamber shape options, but it would make the FE a little bit more conventional. The problem will be the area under the extended head and the block rail. The SOHC has that feature, and has little triangularly shaped cork pieces that go in to seal that area. You could do the same thing if you extended the wedge FE head out.
Of course, if you did that, no standard FE intake would fit, because of the design. So, you'd be stuck with a custom intake, or making the head fit an intake from another engine, like the 351C. And if you are going to design a new head and require an intake that wouldn't fit previous head designs, you could just leave the basic configuration the same.