True, the car is slightly dropped now but I don't think I will go any lower.

 

Yes, the AEM instructions state anywhere between 10-2. thus being an angle so moisture does not condense into the O2 sensor itself and make the lifespan shorter.

I prefer to make mine 12:00, just make sure the wiring doesn't hit the driveshaft or anything else.

 

Evojoeix is exactly right the condensation will ruin the sensor. Anywhere between 10 and 3 is good. That's the only reason the manual says to do it this way.