If you were to drop your truck less than 2 inches, you wouldnt need new shocks. If more than that, you will. Since you will be putting on drop spindles up front, and I assume 1" drop coils as well, you shouldn't need new front shocks, but you will in the back with a 3-4" drop. I would personally get new shocks all around, just for the sake of having better control all around.
Lowering moderately is usually safer than lots of OEM ride height. This is providing you lower your vehicle the correct way, as many of these guys have mentioned. The cheap ways are torching your coils, cutting a coil off of each spring, and things like that. They are NOT safe. The safe way to lower vehicles is by getting dropped coil springs (as well as dropped spindles), lowering shackles. But by far, the easiest way to lower your vehicle is to get low profile tires on 14" rims, or to jack up your pickup, take off all of the tires, and then setting your pickup down on the cement. It's actually the safest way, doing it like that. Mostly because you won't be moving afterwards.
I know of many first gen Lightnings (F0rds full-size sport truck) that are lowered. Not only do they look better (in my opinion), they are proven to handle better, which lets the driver have more control over the vehicle.
I think I ramble on too much.
Drew