Ok, that seems reasonable - but most hubs would be appear to be hub centric, having a built in hub ring - which would imply the studs aren't necessarily designed to take the full weight in shear, otherwsie why have the hub ring on the hubs at all?
haha yeah, that's the other thing - if you go hub centric spacers then hole in the spacer need to match the hubs and the ring on the spacers need to match the wheels - or run hub rings as well as spacers