np. i would leave a little space above the height of the metal bracket, while most cards are not any taller than that, there are quite a few that are slightly taller, perhaps half an inch or so. i'd probably leave a good inch or so above that height to make sure you have the clearance you need.
you can go to a pc parts site, such as newegg.com and look at video cards for instance. it will show you pictures of all kinds of video cards, all of them seem to be right about the same size as the metal bracket.
don't forget that the motherboard doesnt typically sit flat on the bottom of whatever it is mounted to, but usually is mounted with some kind of stands. (i used the bic pen method when mounting a motherboard onto a piece of wood). also the metal bracket on the expansion cards extends past the motherboard on the bottom, which means you will have to have the motherboard mounted on some kind of stands to raise it high enough for the card to clear, or bend the bracket on the card in order to accommodate it. i ended up bending the bracket on my video card and drilling a hole through it, and used a screw and part of a bic pen to secure it to the board, since i didn't have anything to attach the top of the card to....this held up very well, even with the motherboard mounted vertically.

