There's another thread regarding this topic. I just lowered mine and feels much better (at least to me). Just flip the bolt and you'll be fine. No need for a shorter bolt.
Good thing you got the "Racing" fuel cap. I was starting to wonder if you were a real man or not.
I completely replaced both my risers and handlebars. Way more comfortable to me. They have a little less sweep back and are lowered over an inch.
How did you get ride of the screen brackets that stick out when you take the screen off?