• The position of the freewheel relative to the dropout doesn't determine whether or not you have a good chainline: the chainline is the position of the freewheel relative to the chainring.

    A good chainline, is one where they are directly in line with each other.

    Both the hubs you refer to will be "converted", if used in a 130mm spaced frame: hubs which take a screw-on freewheel were intended for 126mm frames.

    As Ed says, all "converted" means in this context, is that spacers and longer axles are fitted.

    Depending on your cranks and bottom bracket, you may need more spacers on one side of the hub than the other, in order to get a good chainline.

    Once you have that, it may then be necessary to re-dish the rear wheel so that the rim is central in the frame.

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