I wouldn't use a 130 to 135mm adapter. That's a workaround. I don't like workarounds when you can get a 135mm rear wheel with no workaround.

Can we go back to the original problem for a moment? Something here I don't understand. You say your hub can't be rebuilt because it has too much play, and your LBS can't get a replacement hub.

What kind of hub are we talking here? The most cost-effective option would be to keep your rim and replace the hub, and just because your LBS can't or won't get it doesn't mean they're not available. Also, exactly what size rim are we talking? 406 in what width?