[IROC]

I don't know about the "two complete turns", but you should be able to lower the car a half an inch without problems. As for the alignment, it probably depends a little on where you're at right now, but I'd try it and see how it turns out. You can "eyeball" toe and camber well enough to see if anything is greatly out of whack. If in doubt, take it to NTB or some other alignment shop - usually they will check your alignment for free.

Mike