Originally Posted by TVA
Regarding the lip I would pursue the idea if I were in your shoes seeing as the car does see some serious track time. The underbody spoiler design you've got going will seriously help to reduce underbody flow and improve downforce. If nothing else make it a track only item if you are unsure of the looks (which I rather enjoy by the way). The car is so functional as it sits, the lip would be the perfect addition IMHO. We can all agree that the Corvette does quite well aerodynamically, so here is an inspiration picture for you.
I'm still going with abandon the idea all together since it doesn't do anything for you functionally. As for the vette, it is a bottom breather and that piece pictured is actually there to direct and draw air into the engine... not anything aero-wise as far as I know. I could be wrong though, as it might have a little to do in directing air away from the wheel wells as well.