It sounds like you'll need to extend the damper rods and the top caps/tubes. Going by what zed has posted you will get a maximum of 52mm (2") out of that. Any more on the top and the forks won't sit in the bottom triples properly. Any more on the bottom and you'll probably lose stability. I'd say new triples with a decent drop is the way to go.
Zed: just saw this thread now. You suggested the damper rod extension in my project thread. What material do you make them from? I have no clue about the properties of different alloys, would probably just use S45C as that's what the shock mounts are made of - will that be OK to deal with on a small lathe?