Well i have got a Phil Woods rear hub 120mm wide.
It fits my frame perfectly (spacing is 120mm doh!

), but how do i adjust the chain line when it fits "perfectly."
My frame goes exactly to the pink lines on both sites, so as i see it with my newb-eyes there is no where to put shims?
EDIT: The chainline is about a "chain-width" ≈ 1cm off.