Hey Reed,
I don't roll to fakie, but if you like loose trucks, try some 1/4" - 1/2" risers. Yes, you'll need new hardware (1 1/4" or 1 1/2" appropriately). All this is really based on the skater's preference and what kind riding they are doing. Some like a lower center of gravity, none to small risers (1/8"). Most modern skaters doing tech tricks ride this way. Height is considered a "downside" as it affects technical riding pop and maneuverability. Many transition, vertical, and carving style skaters want some height to avoid wheel bite. This type of riding is usually done with larger wheels for speed which is also a factor. You need to experiment based on preferences and style. Find some OG riding an old school set up at the park to try it out or buy some new gear if possible. There are lots of YouTube videos on this subject as well. I'm no expert but I love this stuff and just recently started skating again after almost a 30 break. -BOG