Is this for the truck in your signature?
If so, no question about it, for a 4 inch rear drop, do a hanger/ shackle combo.
Cheap, and easy, and will still ride great.
In the front, I'd do a 2 inch drop spring. A 2.5 inch spindle may ride somewhat better, but will be a good bit more costly. Myself, I like 2 inch drop coils in the front. The money I save over buying it rather than a spindle will buy an excellent set of lowered truck gas shocks.
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