Not that I am into street racing or anything, but what's wrong with that? At least, you will have something to talk to your neighbors about, other than real estate. If you're a 'pig', your new neighbors will hate you for buying at 70% off peak, so talking real estate is sure as hell not going to make you any friends.
Nothing, if any of these modifications did anything to increase performance.
The purpose of a a lowered ride is to improve handling characteristics, which usually is the result in stiffer, lowered suspension, NOT someone cutting a spring to have the appearance of it. Real aftermarket exhausts are suppose to relieve restrictions, for example on a turbo charged car in the such that there is more free flow exhaust gas used to spin spool the turbos. Most of the exhausts you see on these riceboy cars sole purpose is to make a 4 cylinder sound like a sewing machine, and in the process probably adding restriction to the exhaust system. Performance chrome wheels are an "irony", because chrome weighs a lot. And the aerodynamics treatment is ironic because most of the cars that they are found on can't go fast enough for it to be useful and probably worsens the aerodynamics.
There's an entire webpage dedicated to explaining the riceboy culture.