I would just wait and get a decent set of springs before I lowered it. You can get Ford Racing springs for $140.
You can cut them, and it will ride the same. Don't use a torch as stated. Reason: It heats up the spring and it looses its tension. Just get a grinder and cut them with that. I wouldn't cut 1.5 coils off. That thing will be slammed to the ground. Start with a little at a time. You might have to reinstall it a couple times, so it will be an all day project.
I beleive www.summitracing.com sells Ford B and C springs for $140 still.
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