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No one has mentioned this, but won't spacers generally shorten the life of your wheel bearings? Since they change the geometry & stress points it seems logical.
I find it strange that you all feel a bolt on spacer with studs is safer than replacing studs with longer ones and using a spacer that way. Bolt on spacers have 2 spots where they can get loose and cause problems as opposed to stud replacement only has one set of nuts that could come loose. I will agree bolt on's are WAY easier to install but I dont think they are better. I have run spacers on my last 2 cars and ONLY use stud replacement with zero issues.