I have to go with those that say "it's your pump do as you want" I would only cut the bottom section because it would be easy to raise it back up at a later date and if done correctly it would never hurt the value of the pump. I have run across alot of pumps that were cut down back in the good `ol days. I once had a Wayne 60 that was cut down 2 feet, the work was done many, many years ago. It was really a neat looking pump. I have a Tokheim 850 in the lower level of my house that I cut several inches off the bottom to get it to fit. You can't really tell. I have several original 850's and they line up at different heights.
I again say do what makes you happy, to each his own.
Tom.