Common sense tells me do the spacers first, but they wont be able to be installed for about a week and fear driving for a week on a car that needs alignment (just did spring drop).

Does it matter, or should I wait the week, do the spacers then do the alignment?

 

Ive heard of some people that even wait a month for the springs to settle...

 

Springs don't "settle," the bushings deteriorate because most installers don't reset them when they change the suspension. Springs will sag over time, but they don't settle.