I just looked at the PPI site, the bullit kit looks interesting, what kind of drop does it give?
In general ~3/4". That's the lowest you should go to keep handling. Also, it has the correct spring rate for the drop.
The drop depends on many factors. Is your car 100% stock with a T5 and AC? That's where the ~3/4" drop that people quote comes from.
A Stang with an auto tranny has more drop. Alum heads, less drop. No AC, a little less drop. Verts, lot more drop. Poly isolators will raise the fender by ~0.1". And, so on. All of this stuff adds up in a number of cases.
So, with the Bullitt springs, figure
very roughly ~3/4" lower than where your fenders are now.
Note: It'll take about a month of driving for the *isolators* to fully seat and compress. That effects your final fender height. The "spring sag" (which does NOT exist) that people talk about is really the isolators compressing and settling.
You *should* still get MM CC plates. Otherwise, your camber will be off, your tires will wear too much on the outside edge (and therefore too fast), and your handling/braking won't be what it they could be. Also, considering the cost of an alignment, you want to put in the CC plates with new springs, not afterwards.
Strange struts and shocks are so-so. They are better than KYB which is similar to Monroe.
The Bullitt struts are Toks. I now have the adjustable Toks. I had the sport Toks (similar to the Bullitt struts, but for an 87-93). They are MUCH better than any other strut I had before. But, Koni is better (and more $$), and Bilstein (sp?) is still better (and even more $$$

. I say that Toks are the best for the
money. But, like with everything, you want to stay within some budget (that's why I didn't go with the better and more $$ adj Konis).
Here, you can see how you can hurt the life of an expensive tire by having poor camber. Look at the left edge of the tire on the left. At ~$160/tire, losing that much tire life because or a prematurely worn edge hurts! IMHO, the MM CC plates look like a great deal when you consider that!
http://www.veryuseful.com/mustang/tech/tmp/re720vsBlizzak.jpg
The wear on that edge was done before I put on my MM CC plates.
Good Luck!