That nut should come off but yeah any point should work. I also would not use another replacement strap, I used 0 gauge battery cable when I re-did mine and I added one to the passenger side too.
2000 Mustang GT Steeda #0048 34k miles. 99 Cobra 4V swapped, FTBR IRS swapped, exhaust, tuned by James Gordon.
Just because I give you advice, doesn't mean I know more than you. Its just means I've done more stupid ****.