Just a comment on the Knight Design drop pegs, no reflection on Rob.
I gained about 5/8-3/4" of extra room despite the pegs so-called 1 3/8" drop, partly, at least, because my stock pegs have had the rubber pads removed and replaced by some sheet vinyl, so they were already 3/4" more or less low. No issues dropping the brake pedal to suit, but when I relocated the shift lever on it's splined shaft, my foot fouled on the sidestand tang. I resolved this by removing the shift lever, tracing an outline on some cardboard, and bending it out slightly in the vice with a ball peen hammer. After bending the lever out from the splined end, I then bent the other end to realign the shift lever end and keep it at a right angle to the shift shaft.