I used this concept when I turned my 55G into a 180G a few years back. I would most certainly stick w/the original height instead of trying to gain extra volume by using extended frame on the front. Extra frame on the bottom will prevent you from viewing what your fish are doing in some instances(I considered this when doing my build, but decided it wouldn't bother me, turns out it did). The extra frame on top will add more water pressure if you decide to try and fill above the glass level. In any case I wish you luck and hope to see a build soon. Also the sketch you did looks pretty good, my only question being if your tank currently only has a brace in the middle or does it have two?
And just FYI the tank I built used 1/4" thick tempered glass, not the 3/8" thick glass that older 55G tanks have.
And just FYI the tank I built used 1/4" thick tempered glass, not the 3/8" thick glass that older 55G tanks have.