-
http://productinfo.shimano.com/#/spec/2.3/COMFORT/Crankset?q=fc-s501
Only 68mm is listed.
You aren't trying to use the FC-S501 driveside with the FC-S500 NDS arm are you?
The difference in chainline will be between the inner and outer sides of the tabs (in triple parlance, middle- and big-ring positions). The double-guard version has the chainring in the big-ring position, 49.2mm chainline. The single-guard version has the chainring in the middle-ring position with only the guard on the outside of the tabs.
The crank itself is the same whether you bought the single-guard or double-guard version.
My shell is the traditional 68 mm on the pompino. But the axle on the new Alfine crank is actually longer than on my old Alfine crank. It is about 1 cm difference. I dont see how it will work without the a spacer.