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@eeehhhh
the praise that mrsmith and others have given goldtec hubs has persuaded me to go for them.
my frame is spaced 132.5mm and my chainring chainline is 41mm. The normal chainline is approx 45mm according to Goldtec's web site.
So my thinking is, buy the 120mm spaced hub, then buy from goldtec the 130mm axle conversion kit thingy. Then my chainline will be 45mm minus 5mm - 40mm! Get a cog that budges over a mm.
Now to the main point... anyone else doing this, work ok and got a picture they could post? I don't want my bike looking nasty ;-)