Does not work. The primary culprit being the connector link. It simply could not fit down onto the teeth of the upper cogs with those 9s spacers. If fact, after a very modest test ride, the connector link had been shaved and smashed such that I could not open it. I had to use a chain breaker to pop out the rivets. I’ll replace the link when the chain goes to another bike.
I also think that the trimming tolerances required to use the 8 speed chain, even if I were to eliminate the connector link, was simply too fine. Any real stress and the chain would be jumping between the gears.
SO, a 9-speed chain was installed. Ahh. Perfect. I put a nice hour cruise running front and back derailleurs up & down to test the movements and to see if inadvertent jamming might occur. Nope. Runs very, very nice. I am quite pleased with the little experiment.
The 1971 Gitane TdF. A classic production bike, and a fabulous rider.
SO, if you want to run the 5-7 speed freehubs with an extra cog via use of 9-speed spacers, the 9-speed chain is required.
YMMV, of course.