If your studs withstood the torque they use now days your studs are fine. Wheel stud holes do waller out some over the years but I've never had any problem and you say they used lugnuts with a little bigger heads....you should be good to good and probably safer than some of the spacers and offsets that are on the road!!
...keep it under a 100mph and you should be good....... ..just my .02


1937 Chevy Pickup
In the Gallery
1952 Chevy Panel
In the Gallery
More photos
1950 Chevy Coupe
Pictures!

I'd rather walk and carry a Chevy hub cap than ride in a Ferd.
I can explain it to you, but I can't understand it for you smile