Seems like the crank may be set out pretty far on this side. 118 is a pretty wide BB.
(It is difficult to guess the correct BB width for a new crank without trial and error. This may be an example of error)
The BB itself looks OK. Ideally there wouldn't be threads sticking out, but I've had that happen on old bikes and reusing the lock ring is a good way to cover that up.
Sheldon Brown