Hey, thanks for the encouragement. Moving the steering will not cause mechanical issues. You can't see it but there is a U-joint between the rack and your wheel. This allows the wheel to move up or down. I strongly recommend to fabricate a permanent U-shaped or box bracket to lower the column though.
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"And then we broke the car. Again." Mark Donohue, "The Unfair Advantage"
1987 E30 3L Turbo Stroker Das Beast
2002 E39 M5