Lowering 1 1/2" seems impossible to me. Mine is down 3/4" and I have trouble with driveways and speed bumps. Without serious front end mods, 3/4" is all the C-4 allowed. The spacers between the front spring and frame were replaced with triangular blocks of polyurethane; the Guldstrand GS-80 suspension. The lower CG gives better cornering (like my Z-51 needed help).
The adequate stock ground clearance gets to be an issue rather quickly. With my 3" TPIS pipes, I was scraping even on freeway dips, until I tucked it up real tightly. The California roads are generally smoother than elsewhere, so you have to judge what you can get away with and where you drive the car.
Mike
1984 Z-51 Corvette (white/carmine) 406 cid four bolt, forged crank; 11:1 with aluminum Dart Pro-1 heads
FMS injectors- 30pph @45 psi; BBK 52mm
Lingenfelter Superram plenum, runners & base
Comp hydr. roller- 230 intake; 236 exh @.050
TPIS long tubes feed 3" system through new, stock '84 Vette cat to Flowmasters
Bilsteins revalved to 'Challenge' specs Heim jointed 3.73:1 rear; poly, poly everywhere
strengthened: super T-10 and Doug Nash O/D
Optima battery, inside behind passenger 'export' taillights