There is a very good reason that no one offers a 2.5" drop. It comes down to
suspension geometry and the practical reasons of ground clearance and ride. Cutting springs is ok when done properly, and I have cut spring on my 88 with great success, but the stock springs are not the correct spring to start with for a 2.5" drop.
Anytime you lower a mustang more than about 1-1.5", the
suspension geometry is WORSE for handling. The camber curve of the lower A-arms goes from bad to aboluste crap, and the geometry of the steering system becomes unpredictable when you hit bumps (bump steer). And, there is a limited amount of
suspension travel. When you lower the car, you remove that much of the possible
suspension travel... and there's not much to start with. If I have much weight in the trunk at all, I can feel my stock height, 4x4 97GT bottom out with ease.
If you are going to lower your mustang 1.5" or lower in ANY manner, you should definately get fox body struts, trim the bump stops to allow a little more travel, get caster
camber plates so you can actually align the wheels and tie rod ends that will help correct the geometry. Just cutting the springs or getting lowering springs without considering these, you will be just like those honda guys we all laugh at.