I'm getting tired of typing this...
My friend wrecked his 280Z with 1 1/4" spacers with studs in them (bolt the spacer to the car, and then bolt the rim to the spacer). Totally demolished the front end of the car, including shattering the brake rotor and rim, but guess what, the spacer was fine and he now has them on another car!
He also happens to be the guy making them, so how that for a sales pitch?
Do what you want. Cool rims in 17" for an early Z will cost $2000-3000 (that's dollars). Front wheel drive offset rims are a dime a dozen and there are some cool looking onesout there.
Just my two cents.