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I'd be inclined to raise the RPS first, then try it and see how the current wheel height feels to you. My sense is that you're going to want it a bit lower - a wheel centered at 40-42 inches is going to feel like it's at chest level, even for a fairly tall person.

I am 6'3" and frequently drive an 18, with the stock, standard console and RPS. The RPS feels low to me, but the wheel does not.

Tim