Dan,
I think your arrangement is a distinct improvement to the original Empire kit. I still think the shear stress levels on the stud, at the top of the steering arm/bottom of the spacer are going to be very high. I think the only way round this other than a top brace, would be to weld the spacer, once installed, to the steering arm. The problem with this is how would that amount of heat affect the characteristics of the steel of the steering arm. Back in the late 60's early 70's, we used to have constant problems with the steering arms bending on our racing 4/4. You would start a race with the wheel alignment correct and finish with about 2 inches of toe in.
