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All things being equal, a lower center of gravity will reduce load transfer during both lateral and longitudinal acceleration, which increases total available traction during corner, but may decrease traction slightly during forward acceleration. Of course, the key words here are "all things being equal". After lowering, you need to get the alignment checked and make sure toe is unchanged (or improved) from stock settings. Negative camber will increase at both ends with a lowered car, but that is probably a good thing.
Street cars, even M cars, are full of compromises. Ride height is one of the main ones and is also one of the compromises owners can fix with aftermarket options provided they're willing to lean that compromise a little more towards performance and a little away from day-to-day drivability.
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