Nathan is right, tanks are a horrible thing to build. It's like shoving 10lb's of $hit in a 5lb bag & the bag's not even the right shape for all that crap! You will have a new appreciation of those that have done it before you.
I think the old Benham tank #34 was the best packaging I'd ever seen, 24" tank, SBC & Norm was looking through the nose. Now that was snug!! My 30" tank is kinda roomy.
Axle fairing.....yep that's legal, read the book.
A 1" round tie rod out in the air has roughly the same amount of drag as a tube axle with a fairing over it.
Sid.