ok.  that sounds like a good idea...  what about suspension?  i'd like to have something if i have this much HP and speed...  i dont want to be jostled so much my back hurts.  i have a little 3.5 hp cart and when i go with any speed through the messy stuff it hurts my back.  and no i'm not old.  its f'ing ruff unless i air down the tires, and its still bad...  (they're small though too so...maybe larger ones will help)
i thought independent because i didn't want the engine and tranny jostled around either.  will it be fine to stick them both on a large swing arm section and just suspend the frame/seats on the suspension?  i know prebuilt carts do this but somehow i just didnt like the idea of my engine and drivetrain bouncing around like that.  but maybe it wont hurt anything....
i only figured if i could find some good CV shafts, i'd mount the tranny, and attach the CV's to the tranny's output shafts instead of affixing wheels.  in your example i will still be affixing shafts but they will be solid and serve merely as an extention so i have a larger wheelbase.
plus with your idea i have less ground clearance, but i'm not building a supercart i suppose....
if you can find that site that would ROCK....  was the stuff well made and not too expensive?  my idea on this project is cheap...if i have to learn how to weld good enough to make my own a-arms i will.  
i have some automotive background and RC background so i know how things go together, its the welding skills that will be an issue....
i suppose i should first worry about whether or not i will be able to weld up a frame on my own/with dads help.
how much will steel tubing used for this application cost me?
gosh so many questions.  sorry i should have waited for the rest until later but i dont want to forget anything and its' bedtime.  ack.  i'm impatient.  sorry!!!  
