Looks alright. I'd be concerned with the top of where is is for the wheel wells. I don't think that you want it to stick out that far, at least not a sharp straight edge. To me that looks like it would create more drag. And also make sure you not going too much lower then the lowest suspension/drivetrain part. I'm quite familiar with exteriors of Fords from the past few years and i'm pretty sure the stock air dam is as low as it needs to be across the middle in the front.
I don't know, i mean it is just my 2 cents. Good work and i'd like to see the results
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Randy
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