Dusty, no problem with that at all as long as you keep your trail between 2-4 inches (ideally anyway).
Raking it out is going to give you the most look, but also requires the most effort. I would definitely encourage this approach over the others. The main problem is keeping the neck aligned with the rest of the frame once it's cut. This is a job that should be done very carefully as it can result in some bad, disastrous and even deadly outcomes, if it is poorly done. Taking your time and doing it right though, will give you the most satisfying results. Remember though... rake out on this scoot... not up.
Done per the instructions in Justin's tech article there shouldn't be too much worry about bottoming... as for the "right" way to do it... we are talking a chop here, right? Since when do concerns over 3, as opposed to 4, inches of travel come into play? Sacrificing an inch for a cleaner look is the nature of the beast. Of course,
really doing it right would involve things like respringing and/or shortened tubes, but that wasn't really brought up at first.. and never is. There are many, many levels of "doing it right", that never get touched on because they require such things as money, effort, skill-building and time that most dudes don't seem interested in. So if you're going to do it, at least make it
look right.
On the fucked-up-front-end note that nobody ever seems to mention when they talk about how great this bike is (and I love the look of this chop, btw.) Based solely on clean, spare looks not many compare in my book. Nate Spainhower's paint is subtle and second to none on this scoot:
