well, i am not sure i will agree the spacers are a waste of time IF they are installed properly.
i had a set of John's spacers on my PZJ78, the previous owner did screw up the install which i blamed on the spacers in another post (unfair), these spacers stood up to 36" tractor tires, turbo'd and intercooled PZ with the R141 and a heavy foot. I had no issues with them. air time when winter wheeling, heavy throttle in mud and they gave me no concern.
a good product.
but
i still would rather go with the knuckle, spindle and assorted parts from a late modle 40, 70 or 60 for the conversion ... since i have them sitting on the shelf.
the actual electric hub mounting is MUCH stronger than the manual. the hub itself is just as strong. the wiring is fine ... it is usually the idiot that is working on the vehicle that fawks them up.