Cool. Sounds like I have all kinds of room to experiment. Maybe I'll have to cut it down some at first so I don't hit my head on the top of the steerer.
I saw on Sheldon Brown's site that he sometimes uses a pinch bolt on the steerer so he can put the handlebars up high. That lets you move the stem around all you want without messing with re-setting the fork in the headtube. Maybe I'll try that instead of a big stack of spacers while I'm experimenting.