Don't cut your springs,
Yes a Cheap ebay coil over kit will lower your car more, but it's not like a civic has a million feet of suspension travel to begin with. going any lower then a decent lowering spring is only really done correctly with a PROPER coil over shock and spring, something that shortens the shocks body, and has internal bump stops. there are a few ways to do this and do this right.
but by far the best and least expensive, (and one that gives the best result) is to take off what you have, sell it online and install something like a Tein Basic or K-sport Kontrol kit.
eBay Motors: KSPORT KONTROL PRO FULL COILOVER HONDA CIVIC 92-95 EG ! (item 330211742857 end time Feb-22-08 23:05:56 PST)
or
eBay Motors: TEIN TYPE BASIC COILOVER DAMPER HONDA Civic 96-00 EM/EJ (item 160209230192 end time Feb-22-08 12:40:30 PST)
I sold Tein products for years and they make a good affordable product, I honestly feel you get more for your money with the K-sport, the solid mounts are nice if you want to keep your stock suspension as spares. It's a BIG 48mm high pressure Monotube damper that is really good at reigning in the undulations in the pavement. sell the complete current setup for most if not all of the coil over cost. There is a lot of guys up north that CANT go that low, or just don't know any better.
Now going much lower then 2 inches is going to futz with your camber curve, since the control arm assy. is working outside of it's intended range, you are lucky Double A arm Honda's are pretty resilient to over-lowering. so if you are running Zero toe you won't experience REALLY bad tire wear, but if you want to add the adjust ability, Camber upper arms are pretty cheap... and you won't be running on the inside edge of the tire every time you launch.
eBay Motors: Ksport Front camber kit for 92-95 Civic 94-01 Integra (item 290207293597 end time Feb-23-08 13:45:21 PST)
and if you ever do want to race, K-sport uses American standard 2.5" race springs, they are cheap and plentiful and never loose their value. and can be had in 100-1500 lbs per inch.
I tell the same thing to everyone, you will Swap , replace, and or blow 2-3 sets of shocks and springs and NEVER be happy with the car, or just spend the money once, on some good components and use it near forever. K sport will exchange the inserts pretty cheap, (which at that point you can revalve) or you can do what I do and rebuild them yourself. (this is not suggested for a first timer, but not HARD)
I sell k-sport but I'm not trying to win your business, to be honest I would have to sell them at cost to match the ebay prices. but I have Competeded on them, they work, and don't break... .97G on the skidpad at tire-rack on street tires. and that's with a top-heavy solid axle Sentra. a well dialed in Honda on Kontrols should be WAY over 1G Lateral grip.
For me to set up a typical car, on the track, with a Pyrometer, (which also helps find ultimate tire pressures) it is 1 full day for $500 but lower the car so you have a few inches of travel, set the toe to zero and you'll be pretty close but knowing you can corner-balance the car, or just crank up the rear shocks and get all drifto in a FWD car at will is worth every penny.
the knowledge is available on the internet, buy the good equipment and you will learn how to set the car up to do whatever you want it to. with shocks and springs, non adustable crap or worse cut springs. your just shooting yourself in the foot of ever getting the car "RIGHT" and let me tell you few things corner like a Honda done "RIGHT" it's an investment, since when you sell, wreck, or trade the car, you can usually get $450 back for the suspension when you sell it.