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I ran a full set of “effective” 10mm spacers (a combination of spacer and wheel offset) on my R55 Clubman, and noticed little to no difference in handling or feel. When I bumped up to an “effective” 20mm spacer in the front, I noticed more torque and bump steer in the front end. There was no change in bearing life, that I noticed.
Do it! You'll be happy you did. The only thing I really noticed is that you get a lot more debris kick up than before and little nicks in the paint from small rocks.