the ride will still be affected, as the suspension geometry changes just as if you'd cut the springs. what you do gain is no change in spring rate, i suspect that is what you mean. just make sure your bump stops are doing their job correctly after the drop.
lowering spindles or Zing the frame are the only ways i know of around that. i'm no expert though, i had cut springs on a 63 lincoln at one time. if i had the resources i'd have done what you're considering. go for it
