I am completely and totally ignorant when it comes to suspension...

With that out of the way:

How much lowering could I accomplish with just adjustable shocks?

Would it be as effective as just putting lowering springs on the car?
Any recommendations on suspension would be appreciated. I plan on doing this right so anything I do will include cc plates.

I just want to get rid of that damn wheel gap!

 

adjustable shocks just give u the option of ajdusting the ride quality. you could adjust them to perform and make your ride rough as can be, or you could put them at the lowest setting and they wont perform as well but the ride will be more comfortable. either way , shocks have nothing to do with your height, your always going to need springs for height. unless you get an adjustable coilover kit, which costs a good amount of money. i would recommened the eibach sportline springs, and the eibach pro damper kit... i just had them installed about 3 weeks ago.... they are great, MUCH better cornering and a really nice ride, rougher than stock but not unbarable...

 

I see, I suppose some the articles I was reading were a little misleading when it came to the actual action of the shock in terms of adjustment.

I definately had my I on the sportlines. What does the pro damper kit do?...

In addition what kind of cost did you spend on the parts and installation?

 

the pro damper kit is a kit of shocks and struts. they just call it the pro damper kit so it sounds cooler, but they are just 2 rear shocks and 2 front struts in our case since we own mustangs. if you get the sportlines, youll need caster camber plates since its about a 2 inch drop.... i got them for 170 on ebay... the pro damper kit(shocks/struts) i got for 438 shipped, and i got my hotchkis CC plates for 120 ... installation will cost you about 300-500 with an alignment... i got it all done for 350