I just lowerd my LS 1" and they "recomend" you get the camber alignment kit which is $50 and then $150 to install. It doesn't look like it needs it. has anyone lowerd their LS and accually done it? should I?

no - there are a couple of threads on this - the alignment kit does not fit very well and both people on the LLSOC that tried it remove it shortly afterwards.

Is it bad for the tires/car?

Depends on ow much you are out - but typically with only a 1" drop - you'll be out about 1 degree. 1.5 degree is considered ok for street tires.

you will wear your inner edges out sooner.

How much is it out on a 2" drop like on your car:L and will that wear your tires out faster?

1.5 degrees - and yes they will wear out even faster....

Just dropped my car using an Eibach Spring Kit. No camber kit just went and got an alignment when I was all set.