Yes, except the lug holes in the wheels working on the threaded portion of the studs will chew them up over time.
The difference here is the wheels were hub piloted and the newer wheels don't allow for it on the old hubs, the center bore is too large. Hub piloted wheels transfer the vehicle load/weight to the wheel between hub OD or pilot and the ID of the wheel.
So you're now asking the wheels with oversize center bores to be stud piloted wheels, except there is no chamfer/countersink/ball seat in the wheels to properly pilot and support them.
Stud piloted wheels are OK, and work well but only when you have the whole system; wheels intended for and lug nuts that fit the lug holes/seats in the wheels and center them.
Sure it might work but for how long and at what risk?
As a public forum we should give good advice and promote safe practices the best we can.
