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You can also do this mod without removing the wheels. Just a FYI to save you some time. I lowered my 99 C5 and it took me all of maybe 20 minutes to do. Very easy!!
Leave at least 2, preferably 3 threads above the nut to maintain the strength of the bolt. Has to do with maintaining the tensile strength of the fastener. Do not lower any further without replacing with a longer Grade 6 bolt.
Designer Imagines A Corvette That Looks More Like a Corvette Than the Corvette
Slideshow: A Jaguar designer's personal project imagines what a modern front-engined Corvette might look like if Chevrolet revisited the golden age of the Stingray.