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Rocket-Sauce I just had the thought come to me as I was out for an evening ride. In threadless stem conversion, of which I have done many, the stem clamps onto the adapter and that is it. No spacers below to help support or anything. Essentially the Innicycle headset would have the stem function similarly. As long as it looks natural (or natural enough) without the spacers, it's fine. I've certainly had the instance where, on a modern bike, I've used spacers, but the stem was more slender around the steerer that it looked a little odd. High quality stems have 2mm of thickness around the steerer--quite svelte and much more so than their older counterparts which were in the 3-4mm range. Add in some clever "implied line/form" design work on the part of the modern stem manufacturers, and I could get away with the no spacer look.
