The problem with lowering the rod any is that then all my hanging stuff would impair my ability to shove things into the laundry basket... hehe. There is also room/reinforcement at waist-height for a second bar, if I ever have space to remove the dresser from my closet all I need is an extra bar.

The apartment I loved before this had a 'nook' above the closet to take advantage of the high ceilings... sadly, this place does not (and I only moved next door!).