Check your bumpsteer on your front end if you go low. Look at the angle of your control arms up front. Ideal for handling is to have them horizontal (level with your k-member). You probably won't be able to achieve that, but somewhere between 5*-10* will make your handling feel nice and tight.
Get a MM front end if you can swing it. Their standard setting k-member will move your front wheels forward 3/4". This will change your caster setting in a positive way and really change your handling a lot.
Lowering alone will cause you bump steer issues.
BTW, who's blue car is that? I absolutely LOVE that engine bay!