I have a 1991 Formula with the L98 350 Performance Package that includes Dual Cats. This is my Showcar and goes out about 7-8 times a year. The clearance between the ground and the cats is 3 1/2", so is driving around town poise ANY PROBLEMS?. I am thinking about having a set of Eibach Pro Springs installed and it will drop the car about 1". Has anybody had these installed and what do you think about the RIDE qualities. I am mainly installing these for the looks because the handling is already quite food.

The biggest issues you have when driving a lowered car is being aware of approach angles on driveways.
All in all it's just a matter of paying more attention to things.
Also want to point out that installing Springs without upgrading the Shocks/Sruts is not a good idea as the stock units are designed for stock height.