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Sounds about right: [43.5mm] "Shimano spec, measured to the midpoint between the rings.
with typical 5 mm chainring spacing, this puts the inner at 41 mm, the outer at 46 mm.".1mm difference in the chainline won't cause any problems, so yes you can just move the outer ring to the inner position.
So I've fitted the cranks back on and measured the chainline of the two rings to be about 43mm. From an eye inspection, the inner 42t chain ring lines up perfectly with the rear sprocket and has the same chainline as it (42±0.5mm).
Am I right in thinking I can just remove the inner chain ring and put replace with the outer 52t one? I'll pick up some bolts and a 1/8 chain today.