Joined: Apr 2005
Posts: 1,152
Likes: 5
From: Minneapolis, MN, USA
Bikes: 1990 Burley Bossa Nova, 1992 Paramount PDG-70, 1993 Specialized Stumpjumper, 2005 Jamis Dakar XC Pro, 2007 Rivendell Bleriot
I would be a bit leery of doing that with aluminum, but interestingly, i just was messing with a 130mm Ultegra hub to make it into a ~135mm hub (ended up at 134mm), and noticed that there were at least 3mm of washers on there on the non-drive side. If you removed those, you'd pretty much have a 126mm hub..
Might want to check if your hub has similar spacers that can be removed (on the non-drive side of course, and you'll have to re-dish the wheel, but that's pretty easy).