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the truck wont handle as good, but you just have to remember that when you drive it. make sure your cv angle stays within an acceptable angle, ball joints might wear out quickly, get an alignment after all that jazz
how low?
i would just go for a body lift. IMO a two or three inch lift isnt worth the money for the amount of lift you get out of it. and usually for an ifs a two or three inch lift is just a glorified torsion bar crank or a key swap