I'm not sure what you mean by the shocks not being in the right position. They are not is the same position as the HL but their shock position is not ideal anyway.
PE swingarm is longer than the HL swingarm, so the bike ends up much taller, you can go to shorter shocks but then you lose suspension travel.
Choice of forks also makes a difference if you want to stay class legal and both ends to be the same height, 43 mm forks are not strictly pre 80 depending on who you ride with. Better to go with 38mm, Fox Forx or Simons if you want to stay pre 80 legal.
And you are completely right the Husky frame requires quite a bit/ lot of work, depending on which frame you choose you are up for changing the back bone and fabricating oil tank. rear engine mounts. Cranky's frame looks impressively like the real deal...