It's possible the lip would help, but it will never show up at the gas pump. If you like the look, and it doesn't make it dangerous for people walking by, I say go for it. If it would jump out and grab someone's ankle from time to time, DO NOT!
I would say go for diagonal, keep it at the front edge of the car as much as possible, and don't go further than the existing front end of the car if it looks like it will be a hazard to people walking by. No point in saving money on gas only to pay it out in medical bills.
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