Finally the decision has been made.

I think your right. At that installed height I would need to cut the guides down .135 to get a max lift of .515

I would never cut the spring seats unless I had to for diameter. I never cut them going DOWN into the head. It's pretty thin there in relation to the water jacket. All I ever recommend there is enlarging the diameter......but unless you're running a really big solid, or a roller of some kind, 9 times out of 10 you can get by with a stock diameter spring.