The easiest way to see what is useful is to compare to motorcycles.
People have been hot-rodding motorcycles for ~100 years now, and pretty much everything has been tried. The stuff you see done today is done because it works, and nobody puts that sort of fork setup on a street-use motorcycle.
If you want to build a bicycle with a really-low front end, what you can do is go with a single-sided control arm & remote steering.
Here's one bicycle with it: http://bikerodnkustom4.homestead.com/gallery355.html
Here's a motorcycle with it: http://www.bikernet.com/bikebarn/PageViewer.asp?PageID=933
....ideally you want the pivot point's axis to be centered within the front tire's contact patch, just like a conventional forks' head tube axis would be. To accomplish that, the best way is to use a specially-made dished front wheel that's offest enough to allow the pivot point to ride laterally centered within the wheel.
There was also a GP racebike that had this setup for a year or two but I cannot remember the name or find any photos; I think it was a Yamaha too.
For bicycles (which go a lot slower than motorcycles) you can use a regular bicycle front wheel and either tilt the wheel away from the control arm, tilt the steering axis inwards at the bottom (so that it points towards the tire's contact patch) or a bit of both. This is not absolutely perfect but it is close enough to be safe to ride at bicycle speeds.