Originally Posted by Geezer
Going lower means stiffer springs which mean degradation of ride quality. There's no way around this. The question is how much are you willing to compromise or how much you can tolerate. If a 1.5" drop will work for you, consider some ford racing springs and shocks. These will result in a nice look, improved handling, and won't beat you to death. The best part is that they'll only set you back about $300.00.
FRPP Damper and Spring Kits.... I knew you'd chime in.
To the OP, if you looking for low, FRPP Damper and Spring Kits no-where close to as low as you can go on coilovers. If you want low, forget ride quality as he is right it will degrade BUT with a decent set of H&R's, Bilstein's, or KW V1's or V2's you will have a better coilover ride quality than you would with brands like Raceland and K-Sport Coilovers. A good coilover setup should run you about $900-$1300 so it's in no-way "cheap"