I haven't read this whole thread, but the answer is you can. You could also put an offset in a piece of soft copper tubing to get the braid on the bottom of the cooler so you wouldn't need to tilt the cooler.
As far as higher efficiency goes.. What is left behind in dead space after the last sparge, is the diluted portion of wort of the last runnings gravity.
I treat dead space as an add on to the recipe batches water needed. If you lose 2 qts in the mash/lauter tun, then 2 qts extra is needed so the diluted portion of the last sparge is left behind.
When building a recipe.. what is left behind in the hops absorbtion, boiler dead space, racking from one/two fermenters, bottling bucket, is added to the batch size, so if you lose a gallon on the back end, you need to formulate your recipe for 6 gals instead of 5 gals.