OK, so probably this is as good a time for an update as any.
After a hundred miles stock and on stock tires, a few hundred miles stock but with Geolander AT-S, a couple of hundred stock+skid plates, several hundred with 0.5" spacers, skid plates, and stock-size Geolanders, and several hundred with 0.5" spacers, 28.5" Geolander AT-S (+0.9"), and skid plates for a total of nearly 1,500 unpaved miles on this OB including several hundred on 4WD HC roads, I can say the following:
Optimal mild lift in terms of balancing off-pavement gain with on-pavement behavior to me seems to be what I now have: 0.5" spacers and 0.45" nominal, but really just 0.3-0.35 real lift via the larger tires (Geolander AT-S run a notch smaller than advertized in both 225-60-17 and 225-65). The 0.5" spacers alone had no discernible effect on handling in any conditions (but I am no rally driver). The extra lift from the tires has had a barely discernible effect at higher-speed cornering than one should be practicing. Spirited types cry for a larger sway bar even on stock-height vehicles, but this is NOT a WRX (in fairness, what they really want is a Legacy XT wagon, which is something Subaru should bring back). There is no difference on pavement that I can tell when the car is driven as it should be. The acceleration from 0 has suffered a little.
Optimal lift in terms of gaining more off-pavement peace of mind w/o compromising on-road behavior much remains elusive, however.
Problem 1 is that the skid plates eat 0.5" of clearance, not counting the bolt heads, which actually matter when going over evenly shaped steps and when crawling over very large rocks (like 2-Outback long rocks). This means that the lowest point has moved from 8.7 to...9.0...or even that it has not changed at all, if counting the bolts!
Problem 2, which is the biggest, is the front bumper cover. There is no elegant modification for it. "tough" looking silliness is of no interest to me. I would pay for a good aftermarket bumper cover but it must look like it was put there by the factory. Who is going to offer that if a crude tubular piece of iron serves the same purpose and makes one look "tough?" That is fine on an old rig, but just does not cut it on anything with less than a dozen years on it. Bradze has found a mid-ground solution, but it is still not elegant enough for me.
Problem 3 is the rocker panel where the gains are most pronounced. Getting the lower edge over 11" and the main part at near a foot finally puts the OB in business. Still, getting to a foot comfortably would be nice.
Problem 1 is a tough one because the skid plates are really useful on easy trails, not where one crawls over the larger rocks. Maybe the AT plate can take a serious hit, but it is known that the front one made by Primitive cannot, which is ok as this is not a Wrangler. Nor would a moderate hit necessarily disable the car. The true usefulness of the plates as I have seen it is on easier terrain where they keep small rocks and tons of gravel from constantly hitting the undercarriage and where they help against the occasional miss-judged rock or ignored rut--as well as in sand and especially in water where things may not be what they seem. It is true that in the bigger rocks they are an "early warning system" but they still eat clearance...
At this point the most reasonable line seems to just be ready to build rocks and fill ruts. There is no way any further minor improvements will make a difference off--pavement. True upgrades--like raised springs or bigger spacers have huge on-road drawbacks. The former are said to make the ride very harsh though they keep handling in check. The latter require the stiff springs to preserve the handling AND require repositioned rear subframe which drops the rear differential...
Good for Subaru that nobody is offering anything comparable in all phases of the game: on and off-pavement, dependability and durability, resale values (now #1 in the USA), purchase and ownership price.
Also, for all the clearance limitations, traction has been a non-issue and the outstanding ride off-pavement (even compared to the Tribeca) is an asset hard to overlook! So, I am a happy camper overall.