I don't think the 1 1/2" drop is hurting you that bad. I have a 2 1/2" drop on my LX with stock suspension, no quads, and still manage low to mid 1.6's on 26X8.5's leaving at 4g. What RPM are you leaving at? With your MPH, you should be in the 12.4-12.5 range with mid 1.6 60's.
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92 Calypso LX
5 spd, 6# P-1SC2, 3.73's, GT-40 upper/lower, BBK 65MM TB, Pro-M ATI Blowthrough MAF, 30#'s, Edelbrock 6037's, F-cam, 1.6 rockers, BBK Ceramic shorties, BBK O/R H, 2-chambers, MSD 6al, blaster coil, 255 in-tank, upper/lower control arms, subframes, Weld fat and skinnies.
11.86 @ 117 on old dry Nitrous set-up (100 shot) spinning 1st and 2nd. Only 1 run, no bar, got da boot 
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