Sorry I didn't get to this until now. How far do you want to move it? On the pacesetter, we always threaded the ball all the way up the threads until there was two threads left for about an 80% throw reduction (none of this pussy 40% from most Honda, MOPAR, etc. short throw shifters) or no threads left if you're a complete bad-ass like
eggman. On a stock shifter, I'd move the ball up an entire inch. This will give you about the 80% you should be after. You'll think it is insanely short for a while and you'll love it. After a couple months you'll want it shorter.
You will need to either modify your heat shield to make room for the lower hanging lever or remove it completely and forget it ever existed. I haven't had mine for 5 years and I've had no trouble.
Coheed, I don't care how you sugar coat the chop method, it's still the chop method, and it's full-on rice.
As for all the talk of cutting the top of the shift lever, don't do it. You'll want the entire length so the shifter is as tall as possible to keep it close to the steering wheel so your hand has less distance to move to it. Also the threads are good if you want to keep the stock knob or a lot of aftermarket knobs will use those threads. Also you'll want all the leverage you can get now that your throw is shorter. Trust me.