I'll be sending you a PM about the slot mags at lunch, saw your post yesterday but haven't had a chance to reply, am interested
My 2nd gen was riding quite high - new(ish) springs all around and i think they were big block springs at the front and the rears were heavy duty, so there was quite a reasonable gap.
Thanks to the advice of Martin (sportsroof) i took the leaf springs apart and reshaped them with a vice (i can post pics if you like). Just cost a couple of evenings, plus i decided to strip them back, etch prime and paint, as they are notorious for starting to rust quickly. I lowered the back about an inch or so this way. I also did the Herb Adams mod to the front leaf pocket, which moves the bolt hole up by 1/4 of an inch or so, helping slightly lower it too.
You can get lowering blocks, i'm trying to remember what to look out for... It will come back to me at some point during the day. I need to picture it, but there was something about how they are attached that is the difference between them being done well and not. Hmm, need to remember.
For the front springs i trimmed about 2/3's of a coil off. I spent a lot of time reading up on trimming coils, the research ranged from 'you will destroy your car you redneck' to 'ye it's normal to trim coil springs for adjustment'. As 3rdGenMalc says, they will stiffen the ride, and this will be proportional to how much coil is taken out. Detroit Speed / Hotchkis say in their instructions that you may need to trim springs by a 1/4 or so, depending on application, that was enough for me to be ok with the idea. It will stiffen the ride by a % as mentioned, so taking out 3 coils will make a noticable difference, whereas 1/4 or so may be barely noticable. Either way, it won't be like you've replaced a coil with a concrete block lol. I got a spray bottle of water, wet the coil, took it easy with angle grinder - bit of a cut, spray some water, bit of a cut, spray some water, repeat; that way the coil doesn't heat up which is one of the concerns with cutting springs. The coil was barely warm right on the cutting point - about an inch away and it was cold just as the rest of the coil was. If done right, out of the car, using an angle grinder as mentioned and not taking out more than a coil, you'll be fine. I think spring cuitting got a bad name because people would do it on the car with a cutting torch... dangerous and too much heat.
If and when doing this, remember that it's 2:1 ratio i.e taking of 1 inch in height from the coil, restults in a 2 inch drop. Place a block of wood on the top of the tyre, measure from the bottom of the block to the wheel arch lip. Mine read 3.75". Depending how much tyre to arch lip gap you want, you can now work out how much to trim. I needed to trim about 1.9" of the coil to get no gap, but i wanted a gap of about an inch, so i took off 1.5" worth of coil, which results in about 2/3's of a turn. I did 1/4 of a turn first, reinstalled, checked ride height, took back out then cut the remainder. It's actually a touch too low now, would have preferred to cut just half a coil instead.
Or as 3rdGenMalc suggested, you can get new lowering springs, which would be worthwile especially if you have older springs. Bear in mind, they may need adjusting still. I read on the U.S 2nd gen forum about people buying the 2" drop springs and they actually ended up being too low, so from what i've read and experienced, and what Malc said below about scraping issues, better being on the conservative side of lowering. I also learned that lowering one end, also lowers the other end to an extent... I did the rears first had a nice wheel to arch gap, when i lowered the front, the back then lowered a bit too and i kind of wish it was a little bit higher at the back now by about 0.5".
Looking at your pic, front definitely needs to come down. I would initially try taking off half a coil and see how the car sits, including how the back looks. I reckon the back may just be ok. One last thing on the rear leafs... if it's a multipack spring (which it 99% likely is), then you can always take out one of the smaller leafs. This will help lower it slightly, and have the opposite effect of cutting a coil... will give a slightly softer ride, proportinally. You'll have the leafs out at this points, so you could do the Herb Adams front spring eye mod to help get 1/4 -1/2" lower too, plus you can redo all the bushings (if not already).
Sorry for the info overload!! Hope that helps and will PM you shortly.
I can upload some pics tonight if you need about the various different things i did.
Cheers,
Ray
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Keep us updated on how you get on with the front coils, i would guess that 1/2 should do the trick as mine looked to be at the same sort of ride height. 
