I think 1 1/2" is overkill. I'm your height but 36" inseam and I also needed a little more room. I went to the local M/C wrecking yard and after rummaging through a box I found a pair. Don't have a clue what they came off of, but the profile is much thinner than the stock pegs, plus they fit perfectly. I gained about 1/2 inch. Now that may not seem like much but for me it made a BIG improvement in comfort. I had to re-adjust the shift lever; the brake pedal is a little higher but perfectly acceptable. Think in fractions, not inches.
I dont get their claim that there is no brake/shifter adjustment is required. I guess they are correct if you dont mind the levers being way out of whack.I tried and didn't like the result. It took a lot of work to get the brake lever in a decent position. Even then, having to bend my toes inward every time I wanted to shift or brake got old real fast.