Coil spacers

I am looking for a cheap lift, just wondering what some pro's and con's are for coil spacers. Do they do any long term damage to suspension components or are they just the poor mans lift? I really would like to hear from you guys that actually are running the lift to see what you think. Ride quality, performance, wear and tear, etc. I know about the CV joints and all that stuff. Any info would be much appreciated, Thanks.