A tractor sitting 2" lower will have a very small, marginally noticable difference in the center of gravity.
You will lose ground clearance, use of some belly mowers, get a worse ride, much worse tractoion, lower load rating (weight you can load on the tractor), the proof-meter will be off for mph, unless someone matches this up proper you will have a different ratio between your front & rear tires & that will be hard on your 4wd transfer case, and a host of other negatives mentioned here.
A taller tire, within reason, is _always_ a positive thing. A lower tire is a negative, unless you absolutely must have a lower tractor for some real reason.
Now, fatter or skinnier tire is a trickier question. In some cases, like mud or snow, a tall skinny tire might have far more traction than a regular fat tire. In any case, the shorter tire will always have poorer traction.
Taller is better for 99% of applications. You can't really compensate by getting a shorter but fatter tire - it don't work that way.
In snow or mud, you need to sink through the soft stuff & get good footing on the harder sub-soil layer. A fat short tire won't make it, you will be hung up. A tall skiny tire will offer less resistance to the mud & will dig you out on the subsoil layer. While a tall fat tire will have more suction & mud resistance, but probably will get to the hard subsoil layer & should get you out.
This same principle applies, in miniture, to any heavy pulling situation on regular dry dirt. Us farmers are turning to much taller, skinnier tires on our combines & tractors to pull better.
I think shorter tires is a bad direction to go unless you understand what you are giving up & have a good need for the shorter tires.
--->Paul