Good News! Finally had a chance to check things out tonight. Centering rings solved 95% of the problem! Luckily, I had an extra set of the aluminum rings from my E24 wheel set-up. I do not recommend the plastic rings. Thanks for all the input!

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Current Rides:
'88 635 CSI (mine)
'02 X5 3.0 ("tank thing")
'01 325CI Convertible (wife's)
'06 325i Sedan (daughter's)
'07 X3 3.0 SAV (other daughter's)
Guess who gets to work on them!