That said, as to your specific question there are a number of answers.
Yes, adjustable coilovers will give you the ability to tune ride height within a given range, and yes adjustable compression and rebound damping will give you the ability to tune the damping within a given range. You didn't mention if you have an OE or aftermarket subframe. If you have an OE there is a point of diminishing returns on a low ride height. At some point you will run into the bump stops - bad. At some point you will get out of the "sweet-spot" for good geometry. Carl C has explored that range quite a bit and has found that the suspension dosen't like to go below a point at which the LCA bolt intersects the middle of the LCA ball-joint. According to him, below that point the front end gets rather "darty" (his words).
If you have an aftermarket subframe, the above may or may not be true depending upon the specific geometry of that subframe.
Spring rates and free lengths must be carefully selected to avoid spring bind and overdamping or underdamping the spring. In addition, it is imperative that the spring rates and damping are tuneable in ranges comensurate with the springs and dampers at the rear of the car. Obdviously, making big changes at one end requires similar changes at the other.
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