I'm thinking about putting independent front suspension under my 1992 F150, while also raising the front 2in. Is this possible and if so, will it have good results.  

The Twin I-Beam suspension is an independent suspension system... you're going to need to be more specific..  

Ok. See I thougth the Twin I-Beam was like independent, but didnt know that it was. Now to the other part of the question. The truck has overload springs on the back, so it sits high in the back compared to the front. If I put 2in. lift springs on the front will I have to adjust any of my steering components.  

No, the only thing you will need to do is get an alignment done with the 2 inch lift.