Lots to learn in the 2014 Lowering thread here: http://www.gm-trucks.com/forums/topic/155864-2014-lowering-drop-kits/
I just lowered my 2015 RCSB Sierra Z71 4x4, after literally months of research. Truck was brand new off the lot, so I would think I am similar to you in your concern of "how low can I go?". My truck will probably never see mud, its a city truck, and the 4x4 feature to me was merely for winter traction.
I originally decided a 3/5........but a few things swayed me away
Good chance it would require shortening the drive shaft
I didn't want to flip the rear
I didn't want top cut anything on a brand new truck, and with a 3/5 you definitely need to cut (or remove) the rear bump stops, and maybe even need to grind off the bump stop brackets.
I still wanted to retain ability to tow/haul stuff
So I went mild, with a 2/4
And yes, as everyone will tell you, you will always want to go lower. My logic was, if I am going to go lower, I'll just bag the damn thing