Nice El Camino. This page has good info on using fbody springs and s10 springs:http://jeffd.50megs.com/Moog_Spring_Page.htm
Drop spindles give you a two inch drop and can be had for around 160 dollars + shipping.http://www.summitracing.com/parts/DJM-DS2031-2/
s10's have the same front suspension as our cars so those will work.
As far as whats best, easiest, etc., I wouldn't cut your springs. Besides that, replacing your front springs requires you remove the wheels, brakes, shocks, and popping loose at least one balljoint on each side in the front to get the springs out. This should be done with caution as the springs will shoot out and could hurt you if you are not careful. For the rear springs, you need to remove the shocks and raise the car while lowering the rearend until the spring is loose. These are not as dangerous and should fall right out.
Here's some articles that might help you out:http://www.carcraft.com/techarticles/sw ... index.htmlhttp://www.superchevy.com/technical/cha ... index.html