Shaun,
All i did on my frame is just offset the sill plate one inch over the edge of the foundation wall. Without the shelf there to set your panels on it makes it alot harder to hang them.Trying to hold them and nail them in place. Granted i just did a conventional pressure treated sill with 2 by 10 joist. Some folks might cringe at the words pressure treated but i guess i'm not a purest to the core. I didn't want to make it harder on the concrete guys to form up the walls to odd measurements or have to shrink the size of the frame itself to accomidate for the 1" shelf.
Also you can use layers of pink board(or blue) to match up the overhang of the panel. On the last 2' of insulation on your foundation wall put two layers of 2" and one layer of 1 1/2" to get your 5 1/2". (i think thats what you said,5 1/2"). It's alot easier when you put your insulation on horizonally. then you can do a stucco on the outside of your rigid. It works well, then you don't have the little jog at the bottom of your panel to the wall. Anyway i'm gettin' a little of the subject, hope some of this helps.
good luck....ZAC
