Hey, thank you very much, [MENTION=176970]seau grateau[/MENTION]! Those links are bookmark worthy. The information there clearly answered my question and then some.
My question arose as I am making my first fixed gear conversion. Having already bought a used Shimano 600 tri color crankset (which I' ve read gives a 42mm chainline paired with an 107mm bottom bracket) my initial intention was to seek for a 3/32 chain and cog, to keep the 600 chainring. But as my fat ass weighs 220 lbs, I wondered whether the 1/8 transmission would be the way to go. Yet, now that I've read what you suggested, it is clear I won't have the power nor the skill to ride so aggressively on the street that a 3/32 setup would become a reliability issue. So, I guess, I would pick which solution comes more handy.
Thank you again!