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most cheap coilovers have crap dampers so they ride badly, but most lowering springs are too low and ride on the bump stops all the time, which makes them ride badly too.
the best riding setup will be coilovers with a shorter stroke with nice dampers.
the ground control coilovers with koni dampers are probably your best bet for a cheap setup.
ill be selling my kyb agx and ground control setup very soon, its a really nice setup that has adjustable shocks 4 way in the front and 8 in the rear. The ground control coilover setup is a nice setup because they use eibach springs which have a million mile warranty. I race the car alot now and went with a pretty high end setup. But my setup now is very nice on the street/autox/ and drag strip.
Let me know if you are interested and I can send pics etc once I get it off the car.
Coilovers do have the ride height adjustability.
If you are on a budget, inexpensive springs and good shocks will ride better than inexpensive coilovers.
Until you can spend a lot more than Konis and ground controls, as suggested above, it's a great formula. Or Bilsteins. If you can afford something like Ohlins, go for it! (I did, but on a 3rd gen)