Ok , a bit of an update . Tore it all down this AM ... beveled the spacer , reassembled . Theres proper spacing now on the caliper/pads . Next concern is the outer spindle nut contacts only about 2/3 of the spindle threads . You who have done this , is this what you have ? Not real happy with THIS latest ... maybe it's enough thread contact but it should be more .
As to the comment on the "bearing guard ", there is no contact or limiting factor because of it . The hub seats against the spindle & thats that .