I dropped my skidplate and did an oil change yesterday. I didn't remove my diff drop and measure but as others have said you arn't dropping the whole diff, just rotating it. The rear, driveshaft side, mount is 6" from the axle centerline. The front, where the drops go in, is 7" from the axle centerline. There for when you drop the front 1" the actual axle centerline only drops .462" (~15/32") Just under 1/2".

Is it worth it? That is up to you. I'm leaving mine in.

 

How do you figure? Add 1" of tire to a wheel and now your hub will be higher thus bringing the hub in line with the CV's. Just set a 31" tire and wheel combo right next to a 33" wheel and tire combo and you can see the hub height difference plain as day.

 

I have to agree with Gator on this one. The difference in "hub height", which is 1" in your example, will increase ground clearance and overall height. What your referring to would imply that the difference is actually compressing the suspension. Which isn't the case when changing the radius of your wheel and tire combo.

 

Yea, suspension and driveline angles are going to stay the same no matter what size tire you have.