Cutting springs is bad news. Sure, it'll make the car ride lower, but with the stock spring rates, and 2 less inches of suspension travel, hit a bump and bad things happen. That's if the springs are cut just right. I know a lot of rice boys who try this or the spring clamp things. Doesn't really work.
If you want to lower it, get a good set of after market springs. Personally I'm using Steeda Sport Springs ($189).
Also, lowering 2 inches is a bit much. 1 1/4 or maybe 1 1/2 is all you really want to go. 1 1/4 doesn't sound like all that much, but it is when you see it.
Also, when you lower it, its a good idea to get a set of CC plates. The stock plates do not allow anywhere near enough alignment adjustment, and you will destroy your tires with 'em.
Finally I agrea with 96GTS. It sounds like you have a bad strut. I'd take care of that first.
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'97 Cobra, K&N, Flowmaster, subframes, 4.10 gears, Steeda Tri-Ax shifter, Steeda G-Trac 3, Cobra R wheels w/ Goodyear F1s
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