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Slamming any street car is kinda like having 20" wheels and drilled rotors - looks cool to some but actually decrease performance. I am happy with the stance of stock bolt-lowering. Even then, I have to be very cautious, everywhere I go.
Err on the side of function over form when lowering your C5.
If you choose to go lower than what you are on oem bolts/uncut bushings you should also budget for shocks (or coil overs)....maybe regular chiropractor visits.
GM allowed for a slight alteration in height adjustment. Anything beyond those parameters and your car may ride harshly and handle less than desirable.
I do like the lowered look, but I haven't done it to mine because of the roads around here - I'm afraid I'd bottom out too many times.
Same around here. Also my DD and several places I have to drive each day require some creative manuevering at stock height. Definitely looks better though.
I drive to work everyday and have to navigate a speed bump jungle, so mine will stay stock for now. I think a little lower looks pretty cool, but if its too low it makes me think of Cheech and Chong for some reason.