My seat-of-the-pants meter tells me the ride is no different from stock LX springs to the Eibach's. I have Tokico Blue shocks, and I love it. Overall, it rides similar to my SC when it was on firm ride.
My only regret on lowering is that I didn't do it sooner, but I have no ground effects body parts; if I had them, I'd think twice before lowering. Just use a little common sense and situational awareness when driving. These things aren't meant to be off-road beasts. The things that I worry about scraping are exhaust pipes (especially aftermarket), the dimple in the 96-up 4R70W tranny pan (or aftermarket deep pans), and the fuel filter area. Add-on chassis bracing too, if you have any. High curbs, speed bumps and sewer man-hole covers (when they resurface the streets) will be the big things I watch out for, along with dead tires left in the middle of the interstate.
97 LX, 4.6, Dynomax catback, Mustang MAF/intake tube and Aviator throttle body, Xcalibrator2 by Lonnie at BOC, 180 t-stat, Super Coupe wheels with 235/60/16's, Kenny Brown strut tower brace, Tokico Blues, Eibach Pro-kit, some strategically placed MN12 Performance polyurethane pieces, '02 Grand Marquis transmission
Submariners do it deeper...