From About Swimming's Swimming Pool Expert, Ray Cronise:
Generally speaking, you would like your swimming pool's stabilizer level to be below 100 (80-100 range). Keep in mind that stabilizer allows your chlorine to hang around longer in the pool water. This is especially important on hot summer days. UV of the mid-summer can quickly consume chlorine in the pool. One of the big advantages of a salt chlorinator is that it is constantly supplying chlorine and the rate can be increased during the high demand of the mid summer season.
It is not a bad idea to drop the stabilizer level. Too much can lead to cloudy water and it also decreases the effectiveness of the chlorine (although you are not at those levels yet). There are some commercial municipalities that have increased maximum levels to as high as 200 ppm for public pools.
If you want to drain the pool, be VERY cautious not to take too much water out (no more than a foot!) also be sure that you do not have high ground water table. Whenever draining a pool, it is REALLY important to stay by the pool whenever it is draining. Draining the pool too far and causing a hydrostatic heave can happen on ANY pool type: concrete, vinyl, and fiberglass. Please proceed with extreme caution when draining water from your swimming pool.