Having a 34" inseam, I find that pegs are generally too far forward for me.
I like them back at least an inch, sometimes two, and as low as I can manage without the shifter hitting the deck on the left. Don;t ask me why I worry about this.
Sometimes it's worth it to cut a piece off the shift tang.
Very seldom do I need to raise the pegs from stock, assuming my shock and fork springs and sag are properly tuned for my mass and thus not limiting the cornering clearances too much.
Often have to go way up on the shock spring rates (on the Ducatis, only on the shock, as the forks on Ducati Superbikes historically come with firmer rate springs than normal, which means the fork springs are fine for my lard arse)