So I'll admit: I promised myself I wouldn't mod the fit so I don't know much about the available aftermarket. I eventually broke down and now I'm looking to get a short shifter.

I want something that is at least as tall as stock (if not a tad taller) but significantly shorter throws.

After some research, I've found some possibilities like H-Fit (although I'd feel retarded if I spent $70 on a few glorified washers and a nut)and Skunk2 ($100+ for a metal stick? talk about self-inflated sense of value) although I would still like some more input.

 

The H-Fit will totally fit your needs. I have it and love it. Its a lot nicer than just washers and a nut.

 

Do the base pieces on the H-Fit actually raise the shifter assembly?

With that said, is it possible to raise it more with the addition of washers, at the same time adding a nut to tighten the extension piece against, resulting in an even higher and shorter throwing shifter?

 

Yes they raise the shifter assembly so the shifter extension has enough clearance against the floor of the car. I don't think you could raise it much more without running into issues with the center console clearance.