You can see the oil pick up arrangement here
On the 525s the pick up was right at the front under the timing gear.
I don't know how much scope there is for chopping out that main volume of the tank without just lowering the amount of oil you put in and risking starvation on a turn.
It's been designed to drain back into that big area at the back so any custom job that makes it shallower but also the same volume stretched forward would need a similar slope.
The dipstick also goes into that part so you'd either have to go stickless, carefully modify the existing one's bottom end length or fit an electronic one.
Dry sumps are expensive e.g.
http://www.ca-int.co.uk/single_prod.php?prod_id=2028
and I've better things to spend 4K on than that, like rebuilding and fitting an M70 V12. I'm sure if an M20 fits so easily the M70 is just more of the same on the opposite side of the engine bay
