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...it's a 165mm road crankset.. will go for single 1/8" ring yeah.
I agree in principle, but the chainline is hard to get right with a flat chainring. I've modified some Novatec axles to give the required line to go with 5600 cranks. Obviously, I went full tart mode, but the basic hack is to turn the drive side aluminium nut down to about half its original thickness and add a corresponding spacer between the aluminium nut and the bearing on the NDS. If you're using it on the track, you'll probably have to trim the axle a bit as it will poke out of the drive side track nut. The 120mm axle is probably long enough not to cause track nut engagement issues on the NDS with a steel frame, but you can get a 130mm axle if you need to.
I wouldn't put road bits on a track bike