We built a similar setup (LS1/4l60E) combo and installed global west control arms and QA1 coilovers. We installed the small block springs since the LS1 is lighter than the traditional small block like you said and it sits nice and low.
Take a look at our site (
www.autokraft.org) and check out the Hugger orange 69 Camaro and see if that is the stance you are looking for. It has standard spindles but I suppose you could put drop spindles in and put it in the weeds.
Hope this helps,
Kurt