thats what I thought too, and why I originally wasn't concerned about using the 120mm wheelset with 5mm of spacers on either side, but once I put the wheels on their, and had the bottom bracket adjusted by my LBS to get perfect chainline, thats how it ended up. Only thing I could think of is that my chainstays are bent. I'm going to read some of sheldon's articles on chainline and measure were it should be on my bike, instead of putting the wheels on and then adjusting the chainring to get it perfect.