ImolaS4
Posts: 2660
Joined: 5/25/2003
From: United States
Status: offline
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Much of the answer is really dependent on what your budget allows.
If you have no problem with the added expense of coilovers, then they are the most cost effective upgrade between those two options.
Springs will give you the lower ride, but they will be at a permanent height - no adjustability. Springs will also enhance the ride performance, too, but within the limitations of their set parameters.
Coilovers provide you with custom height adjustment and, if you opt for adjustable dampening, you can adjust that, too. Coilovers give you more personalization options, but you pay for that up front.
So really, you have to decide whether you can afford the coilovers and then decide whether you want to wrestle with all the customizing variables of the coilovers. You will be the determining factor when it comes to deciding how low and how much dampening you want - those are subjective factors that only you can decide. You can certainly get recommendations for the settings, but ultimately it will be up to you. Therefore, coilovers will be a waste of money if you're not willing to experiment with adjustments nor to fuss with the settings. If you just want a "good" setting and then leave it as is, you may very well be better suited to lowering springs and a set of new shocks.
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coilovers vs springs - 
