Used a 72' 240z with Tokico Illuminas, coilovers, and bumpsteer spacers (to correct the angle of the control arms because statically it sits rather low). The bumper on this car was the stock lower valance. There was obvious interference when the valance starts to wrap down about 1" in (as to be expected), but not at the valance to fender meeting point where an air dam would typically go straight down.
The second car was a 76' 280z I do believe, with 'stock' suspension and the air dam pictured below. The first tests provided a good amount of clearance. The later test was quite close, but I do not believe there was interference. On the flip side some damage had become the front suspension and the arms were also completely flat statically. I will have to talk to Nate to understand better why the hubs were pushed out.
Wizard, if you are to mount the air dam flush to the fender, is the problem corrected?
Anyone who is having rubbing issues at the fender/airdam meeting point, please do post photos.
This is still going on, if you are interested send me a PM with your email address and I shall send you ordering information.