Here's what it could look like with Hotchkis 2 inch drop rear springs:
My front suspension still isn't done. I'm also getting drop spindles at some point for the front, but for now I'm using spacers to bring the rear up.
Now compare that to totally stock:
This is why some guys say the car doesn't get any lower. If someone puts lowering springs on a car with a blown suspension that's already sagging, it won't look like anything changed. Especially if it was as bad as mine and they used an Eibach Pro Kit which I've read only drops the full inch in the front.
With these Hotchkis springs, the rear tire is just beginning to tuck. The drawbacks are that you can't really get under the car anymore and that when you jack the car up, the rear springs come out of the top perches (which I guess is more of an "operating location" than a "perch"). It's because the springs are so short. When you lower the car back down, you have to guide both springs into their correct locations. Pontiacgp's isolator picture reminded me of that last issue.
EDIT: Oh! Yea, that's right, the shock question. Well, as long as your shocks don't bottom out when the suspension compresses then you should be fine for the time being.