All of the above, by differing degrees depending on the nature of your setup.
By lowering it you would increase the amount of flat level camber, and affect the toe in. This is because of the way that toe is affected in mustang steering during compression/jounce (i.e. bump steer). Caster I am not so sure about however it wouldnt surprise me if it was also affected.
In summary, get an alignment after you are happy with the ride height.