Originally Posted by
helicomatic
pwdeegan, I would just get a 117mm BB, and shift the spindle to the right the proper amount. You can do it with a couple of the home installation tools, a washer, and a long crank bolt right in the bike, or in various other ways.
Disclaimer: This isn't recommended by Phil Wood, it is recommended by me.
I'm not sure you're going to get the effective chainline with a 117mm bb, even with the allowable adjustment which will be about 5mm max to the right. And that's really pushing it. What takes a 54mm chainline? Is that an error?