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@Tommo
There are two cups that hold the BB cartridge in the frame, by winding these cups out or in on the threads, you can tweak the chainline. Not by cm's, but mm's.
You will need a Campagnolo cassette tool to adjust the cups. Not all work, I've heard the Park one does and I can confirm that one made by Pedros does too.
I only fitted mine last week, and haven't put enough miles into it to say if the Miche system is hard-wearing.
It is however much lighter then the dirty lump of cast iron that Shimano call a BB, which it replaces.