Does anyone have experience with this kind of setup?

I recently scored a double crank on ebay with the intention of using just one sprocket for a singlespeed project. Is it possible to just buy some single chainring bolts, like these?

http://www.jensonusa.com/store/produ...+Bolt+Set.aspx

would there be any excess wear and tear caused by this?

Also, since the chainring right now takes a 3/32 chain, while I'll likely be running a 1/8 chain in the future, are the two sizes incompatible, or should I look for a thicker chainring?