Back in the day and even now bellhousing alignment isn't all that important for the Muncie. The reason it's so important now is because the newer 5 speed transmissions have a different type of front bearing that is far more sensitive. than the old style, to proper alignment. When I installed my 5 speed the manufacturer wanted .003 or better or there would be no warranty. It looks like you have a new bellhousing, that had to help with the tolerances for parallel.
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