New to the site and starting work on a 1940 Chevy Special Deluxe Sport Sedan

It has a 350/350, PS.PB, and sits at a stock height. I am wanting to lower the height from the ground, but would like opinions on what would be the best method to do so. Bagging, altering the springs/suspension, etc.
Also on of the hood side stainless steel pieces has some small bends and rashes. Can these be straightened out to look good again? If so, what is the best method to do so?
Thanks for any info you can provide.

 

Welcome to the HAMB, yes your stainless can be straightened however it is very very time consuming and a steady hand. However you may save yourself hours and just search for some already finished.