Factory ride height is not determined at the wheel well, lip, or rocker as variations in tire size could have them all over the place. The factory service manuals designated the ride height using the lower control arm. The lower control arm pivot on the K frame should be 1/2" higher than the stud that hold the lower ball joint assy to the control arm. Now, if you set it that way, you will notice that your car has a distinctive nose up attitude, that most people don't want. The Performance Chassis manuals suggest setting ride height so that the car has a nose down attitude of 1.5 degrees.