Remember, changing the geometry will probably hurt handling.
Depends of what you do!
If you raise the rear, you'll be able to turn/steer quicker and the front will be more planted in corners. Dropping the bike would definitely influence the bike in a negative way but if you raise the rear a little more, you should be fine. IMHO, the best way to do it is to get a quality after market shock with height adjustment and rebuild the forks with stiffer springs and valves, then you'll be able to adjust/compress the fork a little more without them bottoming out. Also add a 55 rear tire and you should be good to go.
Yes it's expensive, but worth it!
2006 Ebony Black ZX14, Flies gone, Power Commander V, Brock's CT-Single, Brock's Street/Race Map, Schintz Racing Flash, Brisk Racing Spark Plugs, BST Wheels with World Bearing Ceramic Bearings, Scott Rotary Steering damper, Ohlins KA544 shock, FPK Ohlins kit, Brembo GP4 RX Calipers, Brembo RCS 16, Brembo RCS 19 with no Drag Half Lever, Spielger Front and Rear Brake Lines, Braketech Axis Cobra Front Rotors, Galfer Rear Wave Rotor, Shorai LFX21A6 battery, Sato Racing frame sliders, Zero Gravity Racing Screen/MRA double bubble Racing Screen, Rizoma universal lux billet grip, Rizoma Next Fluid tanks, Rizoma Swing Arm Spools, Pro-Bolt tasty Nuts, Gilles rearsets, Sargeant seat, Geelong small tank protector, Geelong Hugger, Bike master magnetic oil drain plug, vortex gas cap, cox radiator guard, Xenon HI's and Low's.