Of course clearance is also dependant on chainring size. What chainrings are you using?

Another factor with the chainline besides clearance of the frame is rubbing of the chain on the middle chainring when the chain is on the smallest chainring. We use 113 BBs and 26 and 38 small and middle chainrings. The chain rubs on the middle chainring on the 6 highest cogs. I could adjust the chainline over to avoid some of the rubbing but haven't since we're fine just using the lower cogs with the small chainring.

It appears to me it's going to be trial and error unless you just go with the 118.