I have an eccentric rear wheel, so I don't have as much room to move as most.
Answer me this: I am moving from a 53-tooth chainring to a 48-tooth ring. I am dropping 5 teeth. This means, according to Sheldon, that I am moving the axle by about 5/8" [5 x 1/8"]. So to compensate, I ought to remove only one link from my chain?