im 5/7 and have a bolt in notch in the rear with shock extenders and it rides fine. I mean, its a lowered truck, but it doesnt bother me at all. THe only rear issue I have is my shackles are so close to the bed and my bushings are soft so on little bumps you can hear it squish the bushings letting the shackle tap the bottom of the bed cross brace and it makes an annoying knock. I can either swap the bushings with these poly's I already have to massage the bed cross brace right at the shackle and it would go away.
As for the front...... Ive had trouble finding springs stiff enough. My DJM's dont hold the weight enough for my liking which caused the truck to hit fenders on good dips something fierce. I went with adjustable Qa1 shocks up front and stiffened them up remedying 90% of this and make it ride so much more connected but its still too soft and I shouldnt have to hold the load of the truck on my shocks. I have been considering 454ss springs but havent really been able to come up with my spring weight to be able to aim higher. I would like to do a spring up front for a 3" drop that would have roughly a 200lb higher tension. I believe this would solve all my issues with bottoming out.
As for clearance, I havent had any issues rubbing or scrubbing anything ive driven over, did take a speed bump a little crazy one day not paying attention and it came off the back side a little fast and I bottomed out in my fender well, but no frame issues. I also have an ls 6l swap and am running the stock truck pan which is 3/4 easily lower than my front end.
I love my 5/7 drop and I wouldnt be happy if i had to raise it back up, im running 20" 2010 camaro wheels and my tires just tuck inside the fender. However, I wont argue, the truck would be more pleasant to drive if it was an inch higher