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Title says most of it, I have $1,000 (willing to stretch up to 1200ish if need be) to spend on the purchase and installation of new wheels and springs to lower my car (nothing too obscene though). What wheels/springs would you recommend? Is it feasible with that $?

I drive a 2011 black T5 if it's relevant. Wheels need to be 205/55/r17.
 

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if you can install the struts yourself and you dont need new tires
it is possible but really stretching it
and if you are going to take the struts off and compress the springs you should probably get new struts...
you can expect 550-650$ for new wheels plus 100$ to mount the tires
 

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Used lowering springs and used wheels, new tires, you can make it work....

I found some Ford Focus SVT Eibach pro kit springs on eBay for $125 shipped.

Got me some new struts/shocks & mounts from FCPEuro.... around $450-500.
 
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