Hi Cory, I took a quick look at your build log to find a photo. I'll read the log later but it looks interesting. Do you have a thread in the Completed Builds section? That would be great, we need to convince people that these projects are doable.
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Use your spring perches to set the ride height and spring rates to set your ride and handling. I don't know when this idea of preload became such a big deal, but it's not.
Nick is right. Your shock has a ride height adjuster, not a preload adjuster. It can preload the spring, but that is neither here nor there - more of an issue of spring design and it's free length. Your springs appear to have a free length several inches longer than you need or maybe want.
I went out and looked at my formula car in more detail and will get a picture for you in a little while. You're right the parts at the top of the shock (perch) do get loose at full drop. In fact the perch and spring are both hanging now from safety wire that holds them to the shock eye.
You should have bump rubbers installed on your shock's piston rod. They come in a variety of shapes (heights and tapers ) to give quickly rising rates etc. They really are required to protect the shock from damage during bottoming. The bottoming can be both a safety and money issue, because sudden bottoming can also cause sudden handling changes. You want bump rubbers. Then look to see if you are bottoming and use stiffer springs.