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i'm not 100% sure how coil overs work, but I am guessing that you replace the stock springs with an adjustable spring for lowering your vehicle. i was thinking that this should work on stock struts, but was afraid that it might shorten their life span. any ideas?

thanks,
chris

 
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please read the suspension faq, in the suspension forum(where this post belongs)
theres two type of coilovers..
1) true coilovers - comes with its own shock so it replaces both stock spring/shock ~$800-1600
2) sleeved coilovers - these go over your existing shocks whether it be aftermarket or stock shocks ~100-300

yes using the sleeved coilovers(the ones your talking about) will shorten the life of the shocks but this is true anytime you lower your car. reason for this being, the shocks are compressed more all the time and stiffer spring rates. how much will it kill the life span of it by is hard to answer cause it varies alot.
you can get aftermarket shocks(konis are the only ones available) you have a lesser chance of blowing these and will also give you a much better ride then stock shocks..
if you cant afford the konis now, then i personally would recommend lowering springs. they're not height adjustable but they're cheaper and tend to offer a better ride the sleeved coilovers

 
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It depends mainly on the amount of a drop you put onto the stock shock, a mild 1" drop will be much lighter on your shocks, and they will last longer than if you put a Heavy 2" drop on.

My advice
Get the coilovers, ride around with a 1" drop, when you wanna floss, throw the damn thing on the floor, And when You can, buy aftermarket shocks.

 
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May I ask the reason for drop? Looks, peformance, comfort, all?

For looks then coilovers. For performance/great comfort than coil go with springs, suggestion would be the eibach pro kit, I heard goldines are nice as well. Springs are longer than coils because it's one set height. Coils need a spring rate that can handle no drop to in som cases over three inches, thats way they don't ride as nicely. Plus, regular springs require less maintainance.