Ohhh there's beenjammmin !!! Haven't seen you on in awhile.
Took me a few minutes to realize what I was looking at. OK, I got it figured out. It's a hood support for the notorious 73-80 hoods that like to go Taco. So very common. What you did was put a band aid on it. They seem to never be right again after they fold.
As far as being higher up in the rear, or at the cowel, you need to adjust your hood hinge mount. IIRC what usually works, is loosen the bolts. Have someone open the hood and push it up and hold it up as far as they can. This pushes the rear of the hood hinge down in the back. Then SNUG the rear bolt. Let loose of the hood and just let it stay open. This should allow the front of the hinge to fall down lower, then tighten the front bolt, then tighten the rear bolt and see if it's any better. It's been a long time since I dealt with it, but did have 2 buds with the problem when they took off the metal hoods and ran fibreglass hoods for awhile. Then when they went to put the hinges back on, it was high at the cowel. What causes that hood Taco is poor spring lubrication. So lube your springs real good. And if you do get a new hood, I'd install those hood stiffners on the new hood too to help PREVENT the Taco effect.