Does it wear out CV boots and joints quicker?
Also what about all the vibration?

 

I guess it does. The S was set to ride at a certain height and the axles are probably in a straight line at this height. If you lower it you will be working the already feeble CV's.

Then again, a 1/2 inch drop (like the H&R springs I have) would result in very little deflection at the CV. A 2 inch slam is another story (and there are much better reasons why that is dumb).

What vibration?

 

I think lowering the car with anything that is stiffer than stock I would imagine puts more stress on the chassis and all the joints.
Isn't than what causes older cars that have "clink clinks" everwhere?

 

I have seen at least an inch sag with three year old stock springs and would guess that was within expected tolerance. Given that does not seem to cause problems it is likely that moderate lowering has minimal effect. More than an inch may change the geometry enough to have an impact.

 

werd