My .02 is if you are this in the fence I'd choose an amount of time you are willing to spend regrowing and get no more than that off. Willing to get back to this in 6 months? 3 inches. A year? 6 inches. That way it won't be a huge deal if you aren't that fond if it. Other than drying time I've not found a great upside to short hair. It sometimes needs even more attention to make it do things. That's why i've been growing mine for a year and a half. Though I do wonder if what I've learned about Cg would make me like my short short hair better. Mostly I did it because I didn't ever know what to do with my hair.
You can see my wavy tutorials here: https://www.youtube.com/playlist?lis...ZNxhBHSXAW40OQ and my wavy blog is The Wavy Nation http://wavynation.wordpress.com