My theory is: If you can't do it right, don't do it at all. Unless it's a hott girl.. anyway, I would HIGHLY recommend saving up the money for a set of coilovers. Buying new springs and shocks seperate is going to add up to be just a little bit less than buying a decent set of coilovers. For adjustability and overall performance go with coilovers. I would take a nice set of used coilovers off e-bay or something before doing a spring and shock combo.

Moral of the story: DON'T half ass it!

IMHO,
Derek