That is exactly what I am doing tomarrow. I will have a Drive shaft loop in there to keep drive shaft under controll if it lets go though. Since the drive shaft is only about 12 or 13 inches long I plan to put the safty loop in the middle so no matter what side lets go then it will support the shaft. Depending on how things look once every thing is together I may weld another piece of steel to creat a shield but I do not think it is needed.
Routing along the 4" main frame rail is simpler, and much safer. I can't think of a compelling reason to do what you are asking. If routed near the top of the frame tubes (near the floor), they are almost invisible anyway when looking under the car.
Having a u-joint let go is going to result in a bad day. Having one let go and take out your battery cable along with the fuel and brake lines could turn it into a really bad day.
Even with a drive shaft safety loop I don't think it's worth the risk.
I still ran the battery cable through the tunnel, but it is protected by a driveshaft safety hoop. What Stephen said above IS the point - you don't want to mix your fuel supply with the potential of a severed battery cable that could easily ignite it! If it severs the battery cable alone, it isn't a big deal, because you can't drive the car without the driveshaft anyway...
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