I does lower the car. How much I really can't say because the car was that way whe I got it... Here is a picture with a 205/75R14 on the front to show you.....
I cut my 4 cyl springs 3/4 of a coil before I installed them, and wish that I had not. It lowered the front about 1 1/2 inches. Current ride height is about 25 1/2 in or so. This is a stripped out 82 hatch with a 5.0.
I would recommend installing them w/o cutting, checking it, and then deciding if you want to cut.