I'm looking to re-do my suspension. I definitely want to lower and put in a rear sway bar. Now, I am as noob as noob gets. So.
How much should I lower to get optimal performance?
Is there any reason to switch out the front sway bar?
Would I be better off getting new shocks or coilovers?

 

If by "get optimal performance" you mean you're looking to lower your lap times then the best place for your money would be a better set of wheels and tires and some racing lessons; way-WAY more bang for the buck than the miniscule gains you'll get by lowering your suspension.

 

I'm getting new wheels as well (18")
The car has original shocks/struts and it's really starting to show.
I want to learn how to do things and taking this car apart seems like an ok place to start.