How should I set up my rear suspension?

[Operatorfailure]

I plan on throwing a turbo on my 5.3 next year and have a goal of 11.49 in the quarter. I haven't touched my rear suspension yet and am ready to lower the truck and only want to do it once. A friend that races circle track gave me some leftover coil overs and he has a large selection of different weight coils. The only problem with this setup is that the coil overs are too long, I will have to make a mount that sticks up inside my bed quite a ways. I was wondering if I could just go with some ~5" drop coils and decent shocks and relocators and have a chance of hooking with drag radials, or is that out of the question? I rarely use my truck for a truck, but it would be nice to have a full bed, but not out of the question to notch it out.

Opinions? BTW, it is a 68 short step with a 5.3/4l60. 3.73's and will be running a 28" drag radial, or a slick if needed.