It depends on how much you want/need to lower it. I have the Buell pegs on my bike and I was able to get the brake pedal adjusted to where I wanted it without cutting it or using a different spring.
Now I do ride with the balls of my feet on the pegs. So if you ride with your heels hooked onto the pegs, you would need it lower than what I have so that you're not actuating it, so Murphys method may be your only choice other than to change how you place your feet onto the pegs.