I'm a firm believer in slamming stems. I got rid of an inch of spacers, and riding got a lot better. I pick up a noticeable amount of power going from hoods to drops. For example, if I'm just on the verge having trouble turning over a gear when I'm on the hoods, I can go to the drops and it will be fine. Have to admit it's not really that important to me on most occasions.
The funny thing was that once I removed the spacers my neck and hand issues got a lot less bothersome. I used to get numb fingers on longer rides, really doesn't happen now.