It's hard to say, from the photo, but perhaps the front derailleur is mounted a little too high.
The need for spacers indicates the rear derailleur is bent. I don't think I've ever seen one of these (cyclo Benelux, simplex tour de France, etc) that wasn't bent, so don't be alarmed. If the bike falls over on the right side, the derailleur ends up holding the rear of the bike, and it bends. Parallelogram derailleurs, in contrast, deflect (as if you were downshifting) in the same circumstances, so are less likely to get bent.
If you can confirm that the derailleur is indeed bent, and you want to straighten it, alas you have to disassemble it almost completely.
It probably is a bit too high. Since it is not compatible with this crank, I'm not worrying about its position right away.
If anything, it appears that the rear derailleur body is pointing starboard, but the leaf spring tube may be a pointing a bit forward. I've had it completely apart, so it's not really a problem assembling/disassembling it. I'll look at photos of some other examples, preferably N.O.S. and see what I can determine.
I'd just like to reel in some of the slack when the chain is on the small cog, but it doesn't skip and I might be able to manage this way. Overall, I'm pleased with its performance already, even now.